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Shares In Vet Groups Rise As Competition Watchdog Makes Price Reforms
The Competition and Markets Authority proposes 21 measures including a £16 cap on prescriptions and mandatory price transparency to address soaring vet costs and weak competition.
- On Wednesday the Competition and Markets Authority published 21 proposed measures requiring vet businesses to publish price lists and disclose if they belong to larger groups.
- The CMA, which began its probe in 2023, found the £6.3 billion veterinary services market lacks regulation of businesses owning most practices, Martin Coleman said.
- The CMA's analysis indicates vet prices rose 63% between 2016 and 2023, pet owners pay 16.6% more at large vet groups, and medicines cost twice as much as online alternatives.
- Firms now have until 12 November to comment, the CMA said some measures could be enforced by CMA Order next year, and CVS Group welcomed the 'certainty' but questioned parts of the package.
- The CMA has urged new legislation to bring businesses into scope, recommending the Veterinary Surgeons Act and vet disclosures to help pet owners access cheaper medicines, with Which? calling for swift implementation soon.
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Vets could be forced to publish prices and cap prescription costs in major shake-up - Gloucestershire Live
The Competition and Markets Authority has been investigating the £6.3 billion veterinary services market over concerns about how it is run and has proposed a number of changes
·Gloucester, United Kingdom
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perspectivemedia.com+2 Reposted by 2 other sources
Vets should publish prices and cap prescription costs, watchdog says
The regulator has been investigating the £6.3 billion veterinary services market over concerns about how it is run. Vets in the UK could be forced to publish price lists and put a cap on the cost of providing prescriptions, under sweeping changes proposed by the UK’s competition watchdog. Pet owners may be overpaying for medicines and are not being given enough information about their vet and the prices of treatments, the Competition and Markets…
Coverage Details
Total News Sources20
Leaning Left6Leaning Right1Center6Last UpdatedBias Distribution46% Left, 46% Center
Bias Distribution
- 46% of the sources lean Left, 46% of the sources are Center
46% Center
L 46%
C 46%
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