• ABOUT US
    • History
    • Our Team
    • Advertising
    • Subscription
  • CONTACT US
Georgia Today
No Result
View All Result
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
No Result
View All Result
Georgia Today
No Result
View All Result

National Competition Agency starts investigating 4 companies in the pharmaceutical market

by Georgia Today
March 27, 2023
in Highlights, Social & Society
Reading Time: 2 mins read
National Competition Agency starts investigating 4 companies in the pharmaceutical market

The National Competition Agency of Georgia has started investigating four companies in the pharmaceutical market.

As stated in the information released by the National Competition Agency, the issue is related to the sharp increase in the prices of chronic and oncological medicine by importers and sales companies and the setting of alleged identical pricing.

“The investigation was based on the information and statements made public by the Ministry of Health regarding the compatibility of the actions of pharmaceutical companies with the competition legislation. The investigation started in two directions, which implies the possible abuse of the dominant position and the possible restrictive agreements of competition (the so-called cartel deals).

Companies under investigation and pharmaceutical associations will have the opportunity to present their positions/explanations in the process.

In 2022, in the pharmaceutical market, within the scope of monitoring, the agency issued 13 recommendations to improve the competitive environment. The process of implementation of the given recommendations is ongoing, of which 7 recommendations have been fully or partially implemented. In the same period, by the decision of the Government of Georgia, the mechanism of parallel import of medicines from the Republic of Turkey was launched. As a result, access to quality medicines increased, and as a result of increased financial access, consumers made savings of approximately 250 million GEL in the retail market. In the conditions of the reference pricing and the implemented/ongoing reform in the market, a significant increase of the mentioned index is expected.

At the moment, the National Competition Agency is considering 4 investigation cases – alleged cases of concerted action, abuse of dominant position, unfair competition and restriction of competition by the administrative agency. In 2023, the agency completed one investigation and established the fact of restriction of competition on the part of the administrative agency.

For information: the agency makes a relevant decision no later than 6 months after the start of the case investigation. Considering the importance and complexity of the issue, the investigation process can last up to 18 months. In case of anti-competitive action, the law provides for a fine in the amount of up to 5% of the turnover of the previous financial year of the violating economic agent,” the information reads.

Tags: Medicine pricesmedicinesNational Competition AgencyPharmaceutical Market
ShareShareTweet

Related Posts

Presidents Putin, Pashinyan and Ilham Aliyev. Source: president.az
Editor's Pick

OP-ED: Good Things Are Happening in Our Neighborhood. On Azerbaijan–Russia–Armenia

July 3, 2025
Donald Trump has attempted to broker several peace agreements, with limited success. Source: Getty, SBS
Highlights

Israel-Iran Latest: Tensions Escalate as Iran Suspends IAEA Cooperation Following US and Israeli Strikes

July 3, 2025
President Volodymyr Zelensky stands in front of a Patriot anti-aircraft missile system in Germany in 2024. Photo by Jens Buttner / Getty Images
Highlights

Ukraine Latest: US Halts Aid as Russia Escalates Attacks, North Korea Deepens Involvement

July 3, 2025

Recommended

Putin, Xi, and allied leaders mark Russia’s Victory Day at Moscow parade

Putin, Xi, and allied leaders mark Russia’s Victory Day at Moscow parade

2 months ago
Experience Seamless Connectivity with Silknet eSIM in Georgia

Experience Seamless Connectivity with Silknet eSIM in Georgia

1 year ago
Champion Karateka Luka Khvedeliani on the Benefits of Georgian Karate for Georgia’s Youth

Georgia to Celebrate First Europe Day with European Union Candidate Status

1 year ago
Georgian Foreign Minister Holds Farewell Meeting with French Ambassador to Georgia

Georgian Foreign Minister Holds Farewell Meeting with French Ambassador to Georgia

3 years ago
Natia Mezvrishvili on Dealing with 2 Political Giants

Natia Mezvrishvili on Dealing with 2 Political Giants

3 years ago
Giorgi Gakharia: We were Told We Were Capable of Nothing – It’s All a Lie and Ukraine is a Great Example of This

Giorgi Gakharia: We were Told We Were Capable of Nothing – It’s All a Lie and Ukraine is a Great Example of This

3 years ago
GT Interview with Giorgi Badridze

GT Interview with Giorgi Badridze

3 years ago
Russo-Ukrainian War and Georgia – Analysis from security expert Kakha Kemoklidze

Russo-Ukrainian War and Georgia – Analysis from security expert Kakha Kemoklidze

3 years ago

Navigation

  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • International
  • Where.ge
  • Newspaper
  • Magazine
  • GEO
  • OP-ED
  • About Us
    • History
    • Our Team
    • Advertising
    • Subscription
  • Contact

Highlights

OSCE PA: October 26 elections marred by irregularities – Calls for dialogue, release of political prisoners, and new vote

Health Ministry: First mandatory drug addiction treatment facility opens

Foreign Ministry: Iran requested condolence book entry on June 26

Israeli Embassy slams Georgian deputy FM for attending Iranian solidarity event

Gakharia on mandate termination: A page from the Kremlin’s playbook

Mandates of Gakharia “For Georgia” MPs terminated

Trending

Experience Seamless Connectivity with Silknet eSIM in Georgia
Business & Economy

Experience Seamless Connectivity with Silknet eSIM in Georgia

by Georgia Today
June 26, 2024

Why Silknet's eSIM could be your top choice in Georgia  Since its introduction, eSIM technology has become...

Photo by the author

Virtuosity and Versatility: Marc-André Hamelin Opens Tbilisi Piano Festival 2024

May 30, 2024
  • Where.ge
  • Newspaper
  • GEO
  • Magazine
  • Old Website

2000-2024 © Georgia Today

No Result
View All Result
  • News
  • Politics
  • Business & Economy
  • Social & Society
  • Sports
  • Culture
  • International
  • Where.ge
  • Newspaper
  • Magazine
  • GEO
  • OP-ED
  • About Us
    • History
    • Our Team
    • Advertising
    • Subscription
  • Contact

2000-2024 © Georgia Today