Russian Ministry of Health traced the slowdown of VED price growth

| By | Medicinal Drug Prices, Ministry of Health Care

The Ministry of Health recorded an 8-fold slowdown in the rate of vital and essential drugs (VED) prices growth. In 2016, these prices rose by only 2% while, a year earlier, the increase was 9%. The officials attribute this slowdown to the implementation of government policy. According to the ministry, the prices for other drugs increased by 7.4% over the year. This information is provided in the materials of the Ministry of Health submitted to the Federal Antimonopoly Service (FAS) for the report on the state of competition in Russia.

The slowest rise of prices was reported for imported VED – 0.8% over the period from December 2015 to January 2017 (the same figure in January 2016 was 2.2%). The prices of Russian-made vital and essential drugs increased by 4.2% in the period from December 2015 to January 2017. This is 4.5 times slower than in the same period a year earlier (19.1%).

According to the Ministry of Health, the state regulation had a significant impact on slowing the rise of VED prices. It should be noted that the slowdown in the rise of prices was reported only for this group of medicines.

“Retail prices for medicines not included in the List of VED increased on average by 7.4% in 2016. In the context of specific price categories, the increase was 18.6% for drugs priced up to 50 rubles; 8.6%, for those priced from 50 to 500 rubles; 4.3%, for those priced over 500 rubles,” according to the materials prepared for the report by the Ministry of Health.