Competition Bureau Recommends Increasing Competition in the Sale of Pet Medication
October 30, 2024 – Ottawa, ON – The Competition Bureau has released a report recommending measures to increase competition in the sale of pet medication in Canada.
The report found that the current market for pet medication is concentrated and dominated by a few large companies. This has led to higher prices for consumers and limited choice.
The Competition Bureau is recommending a number of changes to the current regulatory framework, including:
- Allowing veterinarians to dispense pet medication without a prescription
- Permitting the importation of pet medication from other countries
- Reducing the regulatory barriers to entry for new businesses
The Bureau estimates that these changes could save Canadian consumers up to $500 million per year.
“Pet medication is an essential part of ensuring the health and well-being of our furry friends,” said Matthew Boswell, Commissioner of Competition. “Unfortunately, the current market is not working for consumers. We are recommending changes that will increase competition and lower prices.”
The Competition Bureau’s report is the result of a year-long investigation into the pet medication market. The Bureau conducted extensive research and consulted with a wide range of stakeholders, including consumers, veterinarians, and industry representatives.
The Canadian Veterinary Medical Association (CVMA) has expressed support for the Competition Bureau’s recommendations. The CVMA believes that allowing veterinarians to dispense pet medication without a prescription would give pet owners more choice and convenience.
“We are pleased to see the Competition Bureau taking steps to address the issue of high pet medication prices,” said Dr. Chris O’Brien, President of the CVMA. “We believe that the Bureau’s recommendations will benefit both pet owners and veterinarians.”
The Competition Bureau’s recommendations will now be considered by the federal government. The government has not yet announced whether it will implement the Bureau’s recommendations.
About the Competition Bureau
The Competition Bureau is an independent law enforcement agency that promotes competition and investigates anti-competitive conduct in Canada. The Bureau’s mission is to protect and promote competition for the benefit of Canadian consumers and businesses.
Contact Information
For media inquiries: Media Relations Competition Bureau 819-994-8373 media-relations@cb-bc.gc.ca
Competition Bureau recommends increasing competition in the sale of pet medication
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