Govt to Pfizer: ‘We’re keeping our eye on you’
In a statement issued late yesterday afternoon, Minister for Small Business Bruce Billson said the government would “keep a close eye” on the case in light of a looming review of legal provisions relating to misuse of market power and competition policy.
The independent review, which will have 12 months to report to government, is expected to begin in the coming months following the appointment of panel members and the finalisation of its terms of reference.
“As part of the ‘root and branch’ review of competition law the independent panel will look at claims that the misuse of market power provision isn’t living up to the expectations that the law makers had at the time of its introduction,” Mr Billson said.
“Removing impediments to fair competition rewards responsive businesses that create new innovative products and allows the economy to grow while driving down the cost of living.