PRICES CUT BY pounds 800M; Victory over 'dear' drugs.Byline: TRACEY HARRISON
YESTERDAY'S ruling banning the price-fixing of everyday household drugs could save consumers up to pounds 800million.
It was hailed as a "victory for the customer" who Watchdogs say can at last buy over-the-counter medicines at "a fair price". Major superstores will be the first to slash prices from today.
At Asda a pounds 1.75 packet of 16 Anadin will now cost 87p. Sainsbury's is cutting the price of 16 Hedex tablets from pounds 1.65 to 82p.
And 24 Nurofen tablets at Tesco are down from pounds 3.15 to pounds 1.89.
The High Court order brings to an end a battle by the Office of Fair Trading The Office of Fair Trading or OFT is a non-ministerial government department of the United Kingdom, established by the Fair Trading Act 1973, which enforces both consumer protection and competition law, acting as the UK's economic regulator. to put a stop to Resale Price Maintenance resale price maintenance
Measures taken by manufacturers or distributors to control the resale prices of their products (i.e., the prices charged by businesses that resell them). which allows drug manufacturers to set their own minimum charges.
Mr Justice Buckley abolished the 30-year-old law affecting 2,000 products including painkillers, cold and cough medicines, vitamins and anti-smoking remedies.
The victory came after the Community Pharmacy Action Group representing 12,000 local chemists "reluctantly" abandoned its legal battle to the OFT's challenge.
Last night they were still arguing that the ban will force up to 3,000 local pharmacists to close, and make life difficult for others.
But OFT director general John Vickers
Sir John Stuart Vickers is Drummond Professor of Political Economy at the University of Oxford and a Fellow of All Souls College, Oxford. said: "This is excellent news for consumers.
"They will now benefit from lower and more competitive prices for common household medicines."
The CPAG CPAg Certified Professional Agronomist (American Society of Agronomy)
CPAG Community Pharmacy Action Group (Great Britain)
CPAG Community Partners Action Group (Toronto, Canada) last night predicted a gloomy future for local chemists.
Chairman David Sharpe This article is about British runner David Sharpe. For other people named David Sharpe, see David Sharpe (disambiguation).
David Sharpe (born 1967) is a former British middle distance runner who won a silver medal at the European Championships in said: "Many will not be able to survive given the buying power Buying Power
The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available.
Also referred to as "Excess Equity. and pricing tactics of supermarkets."
The end of RPM was bad news for Boots, which has about 40 per cent of the pharmacy market.
DOWN: Nurofen painkillers have been reduced at Tesco