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Drugs Prices to Go up

The sharp depreciation of the GEL exchange rate may be reflected in prices of certain medicines.  Kakha Okriashvili,  PSP pharmaceutical company’s founder, told  “Commersant”.
However, he explains that the price will  increase by 2 -5% only if GEL passes the mark of 2.00.

According to him, the pharmaceutical market is supplied with products bought both for  euros and  dollars. Consequently, the price hike will touch on the drugs purchased for dollars.

Okriashvili gives  an  example of the  best selling products – suprastin and panangin and claims that both of them are bought for dollars.

He notes that  PSP is the  national distributor and provides the country’s   pharmaceutical safety. Therefore, Okriashvili believes that it is wrong to hike prices  due to the drop  in the GEL  exchange rate.

David Kiladze, Director of GPC, another pharmaceutical company, states  that medications will not become  more expensive due to exchange rate fluctuations.

Note: Georgian currency has lost 3 more points against the Dollar.

National Bank of Georgia has established a new exchange rate.

According to the rate, tomorrow, January 23, one USD will cost 1.98 GEL.

Only yesterday, it stood at 1.95 to the dollar.