Tag: Medicinal Drug Prices

Belarus considers introduction of reference pricing for medicines

Belarus is planning to introduce a reference pricing system for medicines, said Vladimir Koltovich, Minister of Antimonopoly Regulation and Trade.

Prices for hormonal drugs and analgesics show the highest rise in Kazakhstan

In the first two months of 2018, the pharmaceutical companies operating in the Republic of Kazakhstan manufactured 4.12 thousand tons of medicines, which is 45.4% more than a year earlier.

Bayer, Novartis and Teva topped February sales rankings in Russia

According to DSM Group, in February 2018, the commercial market of medicinal products amounted to 80.6 billion rubles (in retail prices). Compared to January 2018, the market volume increased by 4.0%.

Russian-made medicines account for up to 72% of public procurement in Russia

In 2017, the public procurement of medicines decreased slightly (with stronger decline in physical rather than monetary terms) and amounted to 340 billion rubles and 0.88 billion packages.

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

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.

Zorginstituut Nederland criticized pharma companies for expensive drugs

Zorginstituut Nederland, which assesses the efficacy of new drugs and advises the government, says the drugs companies are effectively blackmailing officials by refusing to be transparent about their prices.

State regulation of prices for prescription drugs in Kazakhstan will start in October 2018

The analysis of the drug market in Kazakhstan revealed the shortcomings in procedures for the procurement of medicinal products, the facts of unjustified prescription of certain medicines by healthcare professionals.

Russian pharmacy market increased by 6.5% in ruble terms in 2017

In 2017, 5065.8 million packages of drugs worth 940.7 billion rubles (in retail prices) were sold through the pharmacies in Russia. This is 6.5% higher than in 2016 in value terms and 3.5% higher in physical terms.

Russian pharmaceutical market grew 7.5% in December 2017

In December 2017, the Russian commercial market of medicinal products was worth 69.3 billion rubles. Compared to November 2017, the market volume grew by 7.5%. On a year-over-year basis, the sales increased by 2.4%.

Russian Ministry of Industry and Trade takes steps to reduce drug prices

The Ministry of Industry and Trade of Russia prepared a draft law that would allow the medical manufacturers to minimize their payments of value added tax for imports and sales of medical products

Russia approves the plan for development of competition in the drug market

The Russian Prime Minister signed a Decree approving the road map for the Development of Competition in Health Care. The plan is aimed at developing the competition on commercial markets.

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

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

FAS of Russia identified unjustified 35% overpricing of Tyverb

FAS Russia
In April 2017, the FAS Russia initiated a case on the grounds that Novartis Pharma had violated Clause 1 of Part 1 of Article 10 of the Law on Protection of Competition

FAS will support Russian manufacturers in the registration of prices

The head of Federal Antimonopoly Service of Russia Igor Artemyev met with the executives of Pharmstandard PJSC and BIOCAD CJSC

Russian market of non-opioid analgesics and antipyretics reaches 22.3 billion rubles

Since 2015, the sales of non-opioid analgesics and antipyretics have fallen significantly in physical terms, but are still growing

BIOCAD will lower prices for strategically important 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%