24 Pharma Companies Fined for Raising Prices of Face Masks and Sanitizers

24 Pharma Companies Fined for Raising Prices of Face Masks and Sanitizers

TIRANA, October 15

The Albanian Competition Authority fined 24 wholesalers and retailers of face masks, hand sanitizers, and other paramedical items on Thursday. The companies and sellers failed to comply with the temporary measures set by the Authority in March. Back then the Competition Authority decided that all companies operating in the market of paramedical equipment such as face masks, alcohol, and sanitizers, to be transparent with their prices.
Further on, the Authority noted unjustified hikes in prices for the above-mentioned equipment in the wholesale market during February-May.
At the conclusion of the preliminary investigation, the Authority decided to issue fines totaling Lek 34 million for 24 businesses. The businesses were fined Lek 1 million each. Meanwhile. ten of the companies were fined an additional Lek 1 million because they also failed to provide the information required by the authority.

Source: Competition Authority


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