11.Nov .2021 11:30

Report Proves, We Do Not Have 400% Profit Margin On Medicines – PSP

Report Proves, We Do Not Have 400% Profit Margin On Medicines – PSP
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On the instructions of the government, the Competition Agency conducted research on the Georgian pharmaceutical market. Preliminary results of the document are already published on the website of the Agency.

Mamuka Bregadze, Director of PSP Pharmacy Chain, positively evaluates the conclusion of the Competition Agency.

“We think, the conclusion of the report shows that pharmaceutical companies are not working with high-profit margin. The report reveals that from 2016 to date, imports of the pharmaceutical market is declining, the rates are almost unchanged in USD. The Competition Agency shows the increase only in GEL due to the exchange rate”, Bregvadze said.

BM.GE reminded Mamuka Bregvadze of the Prime Minister's statement. Gharibashvili said in August, that there was an opinion that some medicines had a 400% profit margin, which was unacceptable.

"The report answers all the questions and proves that we do not have 400% profit margin. I do not think there is any company in Georgia that works with such a high profit. From 2016 to 2020, we have shared all our transactions with the Competition Agency and the agency can say if there is 100% or 400% profit margin in the Georgian market. We and many other companies publish financial data publicly, which show that pricing and profit margins do not exceed 4-5% per annum," - said Mamuka Bregvadze.