BIOCAD will lower prices for strategically important drugs

| By | Biocad, Medicinal Drug Prices, VED Drugs

BIOCAD, a biotech company, filed a set of documents to re-register the prices for a number of vital medicinal products in order to reduce them by 50-91%. As a result, the prices of the Russian-made medicines for treatment of serious diseases will be almost 5-6 times less than that of the original drugs, and the state budget will be able to save more than 1 billion rubles, which can be used for the additional patients treatment.

The price reduction applies to a group of high-tech generics, such as imatinib (price will be reduced by 87-91%), bortezomib (86%), glatiramer acetate (73%), and darunavir (50%). These are effective medicines used for the treatment of serious diseases, including chronic myeloid leukemia, gastrointestinal cancer, multiple myeloma, multiple sclerosis, and HIV.

“It is not the first time that BIOCAD initiates the reduction of prices for drugs included in the List of 7 Nosologies. This step completely meets our business objectives, as the voluntary reduction of prices is determined, primarily, by the market environment. The prices for imatinib, bortezomib, and darunavir are being brought in line with the current prices established following the tenders. In fact, we are just bringing up to date the state register of prices. We are reducing the price for glatiramer acetate after improving its manufacturing technology, increasing the depth of synthesis and shifting to the use of our own components. All this allows us to manufacture the product at the lower cost. We are doing it in the public interests. As a result, the treatment of multiple sclerosis will finally cost substantially less for the Russian healthcare system, and more people will be able to receive the treatment,” said Dmitry Morozov, the General Director of BIOCAD.

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