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Panaskerteli index

AYFB: Panaskerteli Index Declines, February Saw 4.5% Reduction in Medication Prices

The Association of Young Financiers and Businessmen (AYFB) continues publishing the Panaskerteli Index on monthly basis. The index is based on monthly monitoring of medication market prices. In this case, AYFB has published the February report in comparison with the January index.

The report is based on monitoring of prices of 200 medications. In February the Panaskerteli Index declined by 4.5%  to 12.7 point. This fact signifies that over the past 4 months the medication prices declination continues.

Prices have declined in such groups of medications as:

Antibiotics:

  • Azimac – 15,1 January; 12,08 – February;
  • Sumamed – 13,72 January; 10,98 – February;
  • Siromin – 31,35 January; 23,01 February;
  • Almagel – 5,2 January; 4,16 – February;

Anti-diabetic Medication:

Diabeton MR – 18,4 January; 17,07 February;

Laxatives:

  • Duphalac – 21,37 January; 20,08 – February;
  • Duphalac (generic) – 7,3 January; 5,84 – February:
  • Medulac WM – 26.27 January; 15,45 – February;

Meanwhile, prices have increased in such groups as:

Respiratory System Medications

Broncho-munal P – 12,9 January; 13,2 – February;

Cardiac Medications:

Valocordin: 5,93 January; 6,93 – February;

Antimicrobial Agents for systematic use, third generation cephalosporins:

ZMax – 33,6 January; 34,32 – February;

The above-mentioned drugs represent only a small part of the groups of medications on which AYFB permanently caries out monitoring. According to the last report, prices have declined on 32 medications from the AYFB database, while prices increased on 23 medications. As a result, the Panaskerteli Index has declined.

The Panaskerteli Index is calculated  on the ground of monitoring of 200 most in-demand medications on the market. The monitoring includes Georgian and foreign medications, as well as original medications and generics.

The report shows prices mainly declined on imported medications and this tendency coincides with appearance of a new major market player, which has introduced about 30% lower prices.

These factors signify that valuable market competition that is characteristic to full-fledged market economy will further lower medication prices in Georgia.

AYFB started the Index calculation in November 2015. In November 2015 the Panaskerteli Index marked 14.5, in December 14, in January 2016 – 13.35; February – 12.7.

AYFB updates the Panaskerteli Index on monthly basis.