Prices for medicines from VED List declined in Russia by 1.8% over the year

| By | Medicinal Drug Prices, Ministry of Health Care, VED Drugs

In 2017, the retail prices for vital and essential drugs (VED) in the outpatient segment have decreased by 1.8%. Over the same period of 2016, the retail prices increased by 1.4%.

The decline of retail prices for VED in the price segments of up to 50 rubles, 50 rubles – 500 rubles, and more than 500 rubles was 2.1%, 1.9%, and 1%, respectively. The procurement (wholesale) prices dropped by 1.5% in 2017.

According to the officials of the Russian Ministry of Health, the medicines from VED List become less expensive as a result of government regulation and price monitoring in this category.

Russian consumers are more frequently buying domestically produced drugs from VED List, the cheaper analogs of expensive medicines, because they have become better educated in this matter. People will no longer purchase a drug for 100 rubles, when there is an analog of the same quality available for 10 rubles.

“The public awareness campaign led by the state on this issue has brought its results,” said David Melik-Guseynov, the Director of Research Institute of Healthcare Organization and Medical Management.

Nikolay Bespalov, an expert of pharmaceutical market, said that, although the decline of prices does not seem impressive, it is a serious result for this segment.

“The figure itself looks not so impressive, but let’s not forget that nothing of the sort has ever happened in Russia with VED category. So the mere fact that prices started to decline says a lot,” he added.

The expert said that Russia will continue to implement its policy aimed at reducing the prices for medicines from VED segment.