Georgia detects abnormally high markup on imported meds

Georgia Materials 1 February 2022 11:41 (UTC +04:00)
Georgia detects abnormally high markup on imported meds

BAKU, Azerbaijan, Feb. 1

By Maryana Akhmedova – Trend:

The markup on imported medicines in Georgia in some cases reaches 1000 percent, the chairman of the National Competition Agency Irakli Lekvinadze said, Trend reports via Georgian media.

“There are about 160 importers of medicines in Georgia. If the average markup of large groups is in the range of about 7-25 percent, which is quite normal, then there are also a number of small importers on the Georgian market, whose markup often exceeds 200, 300, 500 and even 1000 percent,” Lekvinadze said.

The chairman suggested the introduction of an electronic prescription system, as well as the expanded list of generic drugs, similar to proprietary ones, but at a much lower price.

The electronic prescription system will allow the regulatory authority to obtain accurate information about which medicine was prescribed and by whom, the chairman noted.

“Regulation of this system will give Georgia’s citizens the opportunity to choose and respond to unfair marketing facts that significantly increase expenses,” Lekvinadze said.

Meanwhile, Georgian Government has already signed a relevant decree related to the country's initiative, allowing Turkey to significantly expand its presence on the country's pharmaceutical market, the Prime Minister of Georgia Irakli Garibashvili said.

“The imports of pharmaceuticals from Turkey will start in approximately two months. Every citizen of Georgia will feel relatively low prices and higher quality of medicines appearing on the market,” the First Deputy Minister of Health of Georgia Tamar Gabunia said.


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