Georgia detects abnormally high markup on imported drugs

BAKU, Azerbaijan, February 1

By Maryana Akhmedova – Trending:

The markup on drugs imported into Georgia in some cases reaches 1000%, said the chairman of the State Competition Agency Irakli Lekvinadze, reports Trend via Georgian media.

“There are about 160 drug importers in Georgia. While the average profit margin of large groups is in the range of 7-25%, which is quite normal, there are also a number of small importers in the Georgian market, whose margin often exceeds 200, 300, 500 and even 1000%. said Lekvinadze.

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

The e-prescribing system will allow the regulatory authority to obtain accurate information about which medicine has been prescribed and by whom, the president noted.

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

Meanwhile, the Georgian government has already signed a relevant decree related to the country’s initiative, allowing Turkey to significantly expand its presence in the country’s pharmaceutical market, Georgian Prime Minister Irakli Garibashvili said.

“Imports of pharmaceutical products from Turkey will start in about two months. Every citizen of Georgia will feel relatively low prices and higher quality drugs appearing on the market,” Georgia’s First Deputy Health Minister Tamar Gabunia said.

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