Pharmacy fine a red light to stop pandemic price gouging

On Dec 7, the Chaoyang district market regulatory administration announced the penalty given to a pharmacy shop that sold 2019-nCoV antigen test kits at prices much higher than the market average.

According to reports, the No 1 Chaoyang branch of Family of Health sold the antigen test kits at up to 229 yuan ($32.9) per pack, which is more than 270 percent that of the purchase price, and much higher than similar products.

The administration considered such an act to be price speculation, and it fined the company 200,000 yuan and issued a warning about such behavior in the future. In a freshly released open letter, the bureau also warned about 2,000 pharmacies to refrain from pursuing undeserved profits. A hotline 12315 has also been set up so that the public can complain about such deeds. Besides, the State Administration for Market Regulation is also searching for clues to price speculation on e-commerce platforms, and has key provincial-level administrations to check them one by one.

All the moves are rather necessary and should act as a warning to pharmacies never to seek undeserved profit at the cost of society.

With the pandemic prevention and control measures eased, residents have enjoyed a relaxation of restrictions on mobility. This has led to a rise in the number of infections. Medical experts have also advised people to store some anti-fever drugs at home, and the two factors have pushed prices higher than normal. It would be normal if the pharmacies raised their prices a bit, but some have obviously been going too far.

The State Administration for Market Regulation's guiding document precisely defines when hiking up prices is against the law, to which selling drugs at abnormally high prices belongs.

Besides that, the document also makes it clear that it is illegal to store large quantities of important anti-pandemic materials or spread distorted information to disturb normal market order.

It is time all pharmacies stopped gouging the prices of in-demand medicines, and, refrained from hoarding drugs to create an artificial shortage in the market.