Experts say that introduction of labeling will not result in price increase

| By | Drug Marking, Medicinal Drug Prices

The pharmaceutical industry expects a positive effect from the introduction of drug labeling and tracking system. This is the opinion expressed by the industry experts.

“It will certainly have a positive effect for all entities involved in the circulation of medicinal products, including businesses, state, medical community which prescribes medicines,” said Alexander Bykov, the Director of Health Care Economics at R-Pharm, a pharmaceutical company. Moreover,  labeling allows patients to be sure that they get the authentic drugs with the properties declared by the manufacturer. The expert believes that the system will displace the counterfeit and falsified medicines from the market.

According to Mr. Bykov, the honest manufacturers are interested in introduction of labeling.

“Illegitimate suppliers certainly cause significant economic damage,” he said.

Experts tend to think that introduction of labeling will not lead to higher prices for final consumers. At the same time, Ivan Glushkov, theDeputy Director General of Stada in Russia, said that the system requires quite large expenses for specialized equipment and softwarefrom manufacturers.

“The depreciation of this equipment and software will raise the cost of medicinal products. Very slightly, but this will raise it,” he added.

Still, the expert emphasized that information regarding circulation of drugs in the market will allow  manufacturers to cut the costs of their logisticssignificantly. As a result, the system will generate additional direct financial benefits.