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