Reference prices to apply to over 1,300 medicines in Georgia
Over 1,300 medicines for chronic and oncological diseases have been included in the initial list to be sold through reference prices, before the roster is later expanded to other categories. Photo: Nino Alavidze/Agenda.ge
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Pharmaceutical companies, importers, distributors and retailers of medical drugs will be prohibited from selling medicines at prices exceeding the reference set by authorities starting February 15, the Georgian Government announced on Monday.
Over 1,300 medicines for chronic and oncological diseases have been included in the initial list to be sold through reference prices, before the roster is later expanded to other categories.
The Ministry of Health said on Sunday wholesale and retail chains would be required to revise their current prices by January 31 to bring them in line with the new rules.
In comments on the introduction of the requirement, Prime Minister Irakli Garibashvili said his Government’s previous initiative of importing Turkish-produced drugs for effecting a reduction of high domestic prices had already resulted in customers saving about ₾200 million ($75.19mln) annually.
In order to further increase access to medicines for the population, we now have launched a new reform aimed at setting the maximum price limit for medicines", Garibashvili said.
Costs of medical drugs are expected to decrease by 40 percent following the anticipated introduction of the reference price system.
Georgian Health Minister Zurab Azarashvili on Friday said the reference prices set for medicines would come into effect on February 15 and all companies, importers, distributors or retailers would be required to establish a maximum upper limit accordingly.
Import of medications from the Turkish market has “significantly” decreased the prices of “dozens” of medical products in Georgia, Health Minister Zurab Azarashvili said on Saturday.
The costs of medical drugs are expected to decrease by 40 percent next year following the anticipated introduction of reference prices, the Georgian government administration announced on Wednesday.
Georgian health minister Zurab Azarashvili on Tuesday announced the launch of a new methodology for clinics involved in the state-funded general healthcare programme, in a bid to offer improved treatment efficiency and prevent patient over-treatment in medical services.
Georgian Prime Minister Irakli Garibashvili on Monday said the reference price mechanism, set to be introduced in a Government initiative across Georgia next month, would reduce the cost of medical drugs by an average of 40 percent.
Patients in Georgia spending money on medication for chronic illnesses will have up to 90 percent of their expenses reimbursed in a state programme by 2026, Health Minister Zurab Azarashvili said on Monday.
The upcoming introduction of the reference prices system on medical drugs across Georgia is expected to reduce average costs for products by 35 to 40 percent, Irakli Margvelashvili, the Chair of the Association of Pharmaceutical Companies Representatives, told local media on Tuesday.
Plans for expanding the list of medicines under the reference price system, ensuring full functioning of a drug quality laboratory and approving a nursing development strategy were among healthcare system plans for 2023 discussed on Wednesday between Georgian Prime Minister Irakli Garibashvili and Health Minister Zurab Azarashvili.
Georgian Prime Minister Irakli Garibashvili on Monday criticised oil and food importers in the country for “very high profits” facilitated through prices added to the “real cost” of the products, and instructing several ministers to set up a working group to negotiate a reduction.
The average cost of about 800 medicines for chronic and oncological diseases will be reduced by 40 percent with the introduction of the reference pricing system starting today, Georgian Prime Minister Irakli Garibashvili announced on Wednesday.
Georgian Prime Minister Irakli Garibashvili on Monday said he had instructed the country’s Economy Ministry to draft a bill to ensure reduction in domestic prices on food and oil.
Mamuka Mdinaradze, the head of the ruling Georgian Dream party in the Parliament, on Monday pledged support for the Government's forthcoming bill for regulating high prices on various products in the country.
Georgian Health Minister Zurab Azarashvili on Friday told parents of children diagnosed with achondroplasia the state would obtain the experimental drug Vosoritide for the condition if a number of European Union member states financed the medication by September.
The number of medicines sold through the system of reference pricing across Georgia has been increased to 2,300, the Government Administration announced on Thursday. The list now included antihypertensive, anticoagulant, antihistaminic, antibiotic, gastrointestinal, analgesic and anti-inflammatory drugs.
Hans Kluge, the World Health Organisation’s Regional Director for Europe, has called reforms in Georgia for increasing accessibility to medicines “one of the best examples”, the Georgian Health Ministry said on Wednesday.
Health Minister Zurab Azarashvili on Thursday said reference prices on medical drugs would be applied to additional 2,000 medicines in Georgia, starting next year.