New Clicks Holdings - Medicine Pricing Regulations
Release Date: 01/06/2004 17:53:01 Code(s): NCL
New Clicks Holdings - Medicine Pricing Regulations
New Clicks Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/000645/06)
JSE share code: NCL
ISIN: ZAE000014585
(`New Clicks`)
MEDICINE PRICING REGULATIONS
New Clicks applied to the Cape High Court this morning for interim relief to
suspend the operation of the medicine pricing regulations, pending a decision on
their validity. New Clicks has two principal objections to the pricing
regulations. The first is that the single exit price as formulated in the
regulations, is unworkable and the second is that the dispensing fee for
pharmacists is not appropriate or viable.
New Clicks sought interim relief to suspend the single exit price mechanism and
to ensure that pricing methods and policies were not implemented prior to a
pronouncement on the validity of the regulations by the court.
The court granted an urgent hearing on 17 and 18 June 2004 to decide the
validity of the regulations. It also granted an interim order that New Clicks,
other retail pharmacists, wholesalers and distributors are not bound in the
meanwhile to sell at the single exit price or at a price based on the single
exit price mechanism.
Furthermore, the court ratified a timetable for the hearing of the matter on 17
and 18 June which will bring a resolution to the issue in dispute prior to 2
August, which is the appointed date for the implementation of the dispensing
fee.
Cape Town
1 June 2004
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