In line with a decision made by Irakli Garibashvili, Prime Minister of Georgia, an Interagency Commission for Regulation of Prices on Pharmaceuticals will be mandated to set threshold retail sales prices for specific items of medication.
In line with the applicable Government Decree, amendments have been made to the original Decree on the State Regulation of Prices on Pharmaceuticals and on Adoption of Rules, Terms and Conditions of Regulation. Considering the high public and state interests, the referred Interagency Commission for Regulation of Prices on Pharmaceuticals will be mandated to set or introduce threshold retail sales prices for specific items of medication and to address all issues related to it.
Interagency Commission is composed of the Ministry of Persons Displaced from Occupied Territories, Labour, Health and Social Security of Georgia; Ministry of Economy and Sustainable Development of Georgia; Ministry of Finance of Georgia; Revenue Service of Georgia; National Centre of Intellectual Property; National Statistics Office of Georgia; National Competition Agency; along with two independent members of professional profile – pharmacologist and pharmacist and a Director of the Pharmaceutical Regulation Agency of Georgia.
The Commission will be entitled to define different timelines and conditions for the enforcement of prices defined on pharmaceuticals. In line with decisions made by the Commission, prices will be published by the Ministry of Persons Displaced from Occupied Territories, Labour, Health and Social Security of Georgia in a relevant catalogue.
Updated prices will come into effect in 1 months from the date of publication in the referred catalogue of prices.
