Co. has announced plans to sell its sugar pill capsule in Australia from July 2017.
The company said it had been in talks with local pharmacy partners about the product.
The move is the first of its kind to be announced in Australia.
A spokeswoman said the Australian market was currently not yet ready for the new product, and that the company was not able to provide further details.
The Australian Competition and Consumer Commission (ACCC) said it would review the announcement on Friday.
“This is a very important step for Australian consumers and we will review the full details of this decision on Friday,” Ms Rizwan Ahmad, the ACCC’s head of competition, told reporters on Friday morning.
“We will be looking at the impact on competition in the retail marketplace.”
The company, which operates in more than 200 countries and has operations in more states than Australia, said it was not currently aware of any Australian-based competitors that offer sugar pill products that would compete with its new product.
However, a spokeswoman said Colgate had been exploring a potential partnership with the pharmacy network in the future.
The spokeswoman said that the Australian Competition &.; Commissions review would not be completed until after Colgate’s announcement on Thursday.
“While Colgate is committed to developing and supporting a successful Australian business, the company cannot comment further at this time,” she said.
Colgate has also confirmed that its existing sugar pill product is not yet available in the Australian Market, although the company said in a statement that it was still evaluating its options in the global marketplace.
CVS said the change would not impact the company’s sales or profits.
“CVS is committed, and has been working closely with the Colgate Group, the Australian pharma industry, and the pharmaceutical industry in Australia to bring the new sugar pill to market,” a Colgate spokeswoman said.
However, CVS will continue to engage with the Australian industry on a variety of fronts.”