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17th April, 2002 Sigma/API to address ACCC concerns
In a joint statement, API Managing Director David Young and Sigma Managing Director Elmo de Alwis said "We are analysing the issues raised by the ACCC in detail, and we have not as yet had any substantive opportunities to discuss with them ways in which these concerns can be addressed. We believe that a merger of the two companies would provide a much more viable long term industry structure, for the benefit of customers. However we look forward to having such discussions with the ACCC, as we have a number of constructive propositions to put to them that we believe should satisfactorily address their issues." "Recognising the possibility of the ACCC raising concerns, we have earlier this week provided the Pharmacy Guild of Australia, which represents in excess of 90% of pharmacies in Australia, with the opportunity to review our suggested propositions. The Guild has indicated today that, having examined the information provided to them, they are satisfied with the proposals and ensure there would be no diminution in service levels or terms of trade being offered to pharmacists and consequently reflected in advice and service to the community." " A key objective of the merger has always been to reduce excess costs
in the pharmaceutical supply chain in Australia. This is consistent with
Federal Government policy." Further enquiries should be directed to: Mr Elmo de Alwis (03) 9839 2800 |