Drug prices in Ukraine can be reduced by as much as 30% - the State Price Inspectorate

6 June 2014 10:22  5871343 072200
Drug prices in Ukraine can be reduced by as much as 30% - the State Price Inspectorate

Prices for medicines in Ukraine can be reduced by 20-30% due to the implementation of effective state policy by the government.

This opinion in an interview to the "UNIAN" was expressed by the head of the State Inspectorate for Price Control Oleksandr Kiselyov - the Ekonomichna Pravda informed.

"Prices will fall only if the government intervenes in the pricing. If you expect that the rate of 11 UAH per dollar will lead to imrovement of prices on the drugs market - it will not. However, an effective state policy in the pharmaceutical market can lower drug prices at least by 20-30% even in the face of currency issues," - Kiselyov said.

He also said that the country's pharmaceutical market should be monitored strictly and "liberal economics does not and can not apply to drug prices."

Kiselyov also explained that there are several reasons now for the price increase in Ukraine: exchange rate plummeting, the introduction of 7% VAT on the importation of drugs and corruption in the industry.




To stabilize the pharmaceutical market, Kiselyov suggests to implement reference pricing for drugs, a draft resolution for which has long been considered, and to introduce the requirement for businesses to obtain an opinion on the economic justification of a price before declaring it.

"As of today, the draft resolution on the introduction of reference pricing has been blocked by the pharmaceutical market, and on the right of the State Inspectorate for Price Control to review declared prices - the Ministry of Health", - Kiselyov said.

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