Georgian importers are developing a crisis management plan – Ilona Kokiashvili, the head of the Georgian Association of Pharmaceutical Companies, told CBW.
In her words, 90-95% of medicines on the Georgian market are imported, which means they are acquired in the currency and their value depends on the exchange rate of the lari.
“The devaluation of the national currency is already partially reflected in the hikes in drug prices, but it was not proportional to the fall in the lari rate. Importers are working with suppliers on a variety of discounts, apart from that, discounts are available in the pharmacies too,” she explains.
According to her, if the lari doesn’t fall sharply in the future, the current prices of medicines will not change.
“The local production of drugs is currently developing in Georgia, but all companies use imported raw materials, so that even the Georgian manufacturers will not be able to avoid price hikes. Currently, the business is waiting for stabilization of the exchange rate to determine the long-term plans and forecasts. Importers are now suffering a very difficult period and working on a crisis management plan,” Ilona Kokiashvili notes.