Prepared Series of Decisions on Price Regulation for 4,500 Drugs

The Chairman of the Tariff (Price) Council, the Minister of Economy and Industry Shahin Mustafayev answered the questions of the official state newspaper regarding the latest decision of the Council on the regulation of drug prices.

The Minister said that this is the first decision of the TC at wholesale and retail prices for medicines. The solution covers 250 of over 4,500 medicines that have passed the state registration. However, the number of drugs subject to price regulation is much more because of their different levels of dosage, commercial packaging, and the number of tablets in the package. Therefore, upon receipt of applications from the importers new decisions will be made by TC.

According to Mustafayev, the regulation of prices of basic medicines is to be completed by the end of this year.

The minister clarified the question of entry into force of the new price within 45 days. He noted that the placement of the new prices on the packaging of medicinal products and the settlement with the manufacturers requires some time. Note the new prices of medicines will be carried out in a special way, to be determined by a joint decision of the MEI and the Ministry of Health.

According to Shahin Mustafayev, uniform retail prices in the pharmacy network will reduce the cost of citizens on purchase of medicines, and increased control over price regulation will contribute to the growth of tax revenues.

Note that the TC has published a list of comparative prices of medicines, according to which many of them were sold at too high prices. ----08D