PSP Group says the main opportunity for reducing medicine prices in Georgia is the development and expansion of local pharmaceutical manufacturing. The company’s Head of Healthcare Development, Giorgi Ramishvili, made the statement after a meeting between the Government’s “Price Commission” and representatives of the pharmaceutical sector.
Ramishvili noted that since 2022, the majority of medicine prices have been regulated through the reference pricing system, which now applies to about 70% of pharmaceuticals. However, when asked by media whether the sector sees further room for price reduction, Ramishvili highlighted local production as the primary path.
“In our view, the space for reducing medicine prices lies in encouraging local production and expanding the list of medicines covered by the reference pricing system. The Ministry of Health is actively working on this. We believe the share of locally produced medicines should increase, and Georgia should catch up with countries that manufacture a substantial portion of their pharmaceuticals domestically,” Ramishvili said.
The meeting with pharmaceutical companies was part of the ongoing work of the Government’s Price Coordination Commission, chaired by Prime Minister Irakli Kobakhidze. So far, the Commission has held discussions with supermarket chains and distribution companies, and a meeting with fuel companies is planned later this week.
