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January 4, 2022

Australian regulator to review Covid-19 antigen test prices

The regulator will analyse information received from retailers, suppliers and the public.

By Hasini Devarasetti

The Australian Competition and Consumer Commission (ACCC) has announced a review of Covid-19 rapid antigen test prices and is contacting suppliers to check price levels in the market.

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Major retailers and pharmacies are being contacted for the same information.

The information received from retailers, suppliers and the public will be analysed by the ACCC to determine any possible misconduct.

The ACCC is seeking information regarding the current pricing, as well as costs, of rapid antigen tests for Covid-19.

It is also investigating the amounts on order, current stock levels and expectations of when additional tests will be available to consumers.

Additionally, it will examine claims that the existing pricing levels of antigen tests are due to challenges in securing them.

ACCC chair Rod Sims said: “We’ve also had over 100 consumer contacts to our Infocentre or through the online form. We will review the information received and investigate the evidence to determine if there is conduct that raises concerns.

“The ACCC is monitoring the situation and will take appropriate action under its existing powers. The ACCC has not sought, and does not need, more powers to deal with the current situation.”

The regulator further added that businesses should not collude on the pricing of tests or make any false claims to consumers about higher prices.

Last August, the Australian Therapeutic Goods Administration (TGA) approved SpeeDx’s PlexPCR SARS-CoV-2 test.

With scalable 96-well or 384-well capacity, the single-well, two-gene test targets two conserved regions, RdRp and ORF1ab, of the SARS-CoV-2 genome.

Related Companies

Free Report
img

Find the right pricing strategy for your medical device

How do your competitors set prices in different markets? Will reducing your prices win market share from your main competitors? Do you need to position products differently for different markets? To find out, use our Global Brand Pricing tool to achieve optimal pricing for your devices. Detect price changes, understand competitor market positioning, and plan new product launches, by accessing this tool today. It features:
  • A proprietary algorithm that leverages numerous pricing sources, with an emphasis on real-world data
  • Estimates of the likely spread of selling prices per brand and manufacturer, as well as 3-year forecasts for prices
  • Medical device pricing data that can be tracked by market, company, and brand
  • Additional categories that can be built on a custom basis
Use our tool to access competitor pricing strategies across multiple geographies, and various dynamic case studies from the likes of Germany and China, to benchmark yourself against your competitors and future proof your pricing strategies.
by GlobalData
Enter your details here to receive your free Report.

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