State to Regulate Prices of Medicines
President Ilham Aliyev signed an order on application of the Law of AR "On Amendments to the Law "On medicines" on February 2. Amendments to the law provide for state regulation of prices for medicines listed in the corresponding state register.
According to the amendments to the law, the state will regulate the prices of medicines, as well as control the process. The President instructed the Cabinet of Ministers within one month to submit proposals on the central executive body to regulate drug prices, as well as the structure, which will adopt the rules of price regulation and control over that.
The Law "On medicines" has been valid from 22 December 2006. State regulation also includes the registration and certification of state control over the quality, effectiveness and safety of medicines, and licensing of pharmaceutical activity.
According to the State Statistics Committee, in 2013, the retail prices of drugs in Azerbaijan rose by an average 0.4% and in 2014 – by 0.1%.
Last year, the official volume of imports of medicines amounted to $ 225,900,000, which is 9.6% less than in 2013. Azerbaijan exported drugs worth $ 12 million, 3.4 times more than in the previous year. 08D
-
- Economics
- 4 February 2015 12:49
Economics
-
The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
-
The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
-
In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
-
The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
Leave a review