Five pharmaceutical companies and one windscreen retailer entered into settlement agreements with the Namibian Competition Commission (NaCC) after investigations into alleged anti-competitive behaviour.

According to a media statement issued by the NaCC on Thursday, during the investigation, the commission concluded that PG Glass, Beulah Pharmacy CC, CeCe Otjo Pharmacy CC, Chrismed Pharmacy, JN Hyper Pharmacy CC and Medimart Pharmacy were engaged in exclusive dealings.

The agreements which were imposed between November 2022 and January 2023 provide a breakdown of the fines and compliance requirements for the concerned parties.

PG Glass was a respondent in the investigation regarding agreements between insurance companies and some windscreen suppliers which affords preferential rights, sole distribution rights, and waiving of excess fees and rebates to the company.

The company entered into the agreement on 29 November 2022 and agreed to pay a fine of N.dollars 750 000.

All five pharmaceutical companies were found to have engaged in fixing prices through the imposition of a 50 per cent markup on the dispensing of medicine through its professional association with other members.

Beulah Pharmacy entered the agreement on 06 December 2022 with a fine of N.dollars 40 000 and CeCe Otjo Pharmacy CC entered the agreement on 16 December 2022 with a fine of N.dollars 85 000.

Chrismed Pharmacy entered the settlement on 18 January 2023 with a fine of N.dollars 15 000 and JN Hyper Pharmacy on 21 November 2022 with a fine of N.dollars 60 000 while Medimart Pharmacy entered the settlement on 16 December 2022 with a fine of N.dollars 65 000.

Both the pharmaceutical companies and windscreen retailers’ cases are currently before the High Court of Namibia for litigation.

Source: The Namibia Press Agency