Medication prices are declining on the Georgian pharmaceutical market over the past four months. The recent report of the Panaskeretli Index proves this tendency too. Moreover, almost all major pharmacy networks have confirmed medication prices are decreasing in their chains.
Parliament majority MP Nana Keinishvili comments on medication prices reduction issues:
“I think the GEL exchange rate stabilization have preconditioned reduction in medication prices. I do not have official indicators, but the tendency is evident. I like this tendency very much and I believe this trend will be continued”.
The fact is that the price reduction coincides with appearance of Humanity Georgia on the market, which has introduced 30% lower prices, Nana Keinishvili noted:
“All efforts are acceptable for me that will guarantee reduction in medication prices. The new company will not able the market players to enjoy monopolistic privileges in the market and this will recover the environment. The more companies enter the market, the sharper competition will be and prices will decline”.
Nana Keinishvili also appraised the government decision to promote the pharmaceutical market competition instead of introduction of strict regulations:
“This efficient decision was taken to intensify efforts for constructing a strong country and ensuring economic advancement. The business sector should strengthen. The more new companies appear in the market, the better. If the new company introduces high-quality product, we will only welcome similar efforts”, Nana Keinishvili said.