The Competition and Fair Trading Commission (CFTC) has instituted formal investigations against five pharmaceutical companies and traders over deceptive conduct and excessive pricing amidst Covid-19 pandemic.

According to a statement released by CFTC Executive Director James Kaphale the traders are taking advantage of the pandemic that the country is grappling with to contain.

“During monitoring and inspections carried out in the months of January and February 2021, the Commission has observed that some pharmaceutical companies and traders were taking advantage of the pandemic to exploit consumers through deceptive conduct and excessive pricing of essential personal protective equipment used in the management of COVID-19,” said Kaphale in the statement.

Kaphale said the Commission will impose stiff sanctions against any pharmaceutical company or trader found doing the malpractice.

“To deal with the suspected infringements, the Commission has instituted formal investigations against five pharmaceutical companies and traders.

“The Commission will impose stiff sanctions against any pharmaceutical company or trader found engaging in deceptive practices or any other trade malpractices such as excessive pricing in the supply of supplies used in the management of COVID-19,” said Kaphale.

Since the outbreak of the COVID-19 pandemic, the Commission has been actively monitoring the market and inspecting business premises to ensure that opportunistic pharmaceutical companies and traders were not taking advantage of the pandemic to infringe on the rights of consumers.

Section 43 (1) (d) of the CFTA states that a person shall not, in relation to a consumer, engage in conduct that is likely to mislead the  public as to the nature, price, availability, characteristics,  suitability  for  a  given  purpose, quantity or quality of any products or services.

Further, Section 43(1) (g) of the CFTA states that a person shall not, in relation to a consumer, engage in unconscionable conduct in trade of goods and services.