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CVS Group (CMA Investigation): provisional decision

The Competition and Markets Authority’s long-awaited provisional decision on remedies for the veterinary sector has been published, with the key focus resting on transparency and disclosures.
CVS Group - trading in-line with expectations

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Prices delayed by at least 15 minutes

Out of the 28 remedies proposed by the CMA in May 2025, only 21 remain on the table with no new measures introduced.

The only price control suggested is a £16 cap on prescription charges, some 20% below the current average.

The remainder of the measures focus on transparency for pricing, ownership and practice policies, consumer choice, regulatory change and complaints procedures.

A further consultation is under way with the final decision due by March 2026. CVS Group continues to work alongside the regulator with its implementation plan including joint branding across its practice network and the publication of standardised price lists.

The shares were up 5.7% in early trading.

Our view

HL view to follow.

CVS Group key facts

All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.

This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment.

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Written by
Derren Nathan
Derren Nathan
Head of Equity Research

Derren leads our Equity Research team with more than 15 years of experience in his field. Thriving in a passionate environment, Derren finds motivation in intellectual challenges and exploring diverse ideas within his writing.

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Article history
Published: 15th October 2025