The costs of medical drugs are expected to decrease by 40 percent next year following the anticipated introduction of reference prices, the Georgian government administration announced on Wednesday.
The initial stage of the introduction will cover medication for chronic diseases, before being expanded to other categories, with the initiative aiming to “increase access to quality medicine”, ensure “fair prices” and a “competitive and transparent pharmaceutical market”.
Consequently, almost 100,000 Georgian citizens will save up to ₾200 million ($73.41mln). The introduction of reference pricing will further improve access to medications", said the administration.
It will come as the next phase of initiatives addressing the domestic cost of medical drugs, following the government’s decision on effecting a reduction in high prices on the local market by importing products from Türkiye.
The government has said the latter move has effected a 60-80 percent reduction of medication prices in Georgia starting in March.
