The price increase mostly applies to prescription drugs. As the reason for the increase in prices, producers have mainly cited the increase in production costs.
Compared to last year’s November, this year in November price increases were declared for 30% more medicines, but prices were reduced for almost three times less number of medicines. In November 2023, drug manufacturers and their representatives declared price increases for 41 drugs, and price reductions for 28 drugs.
Also in October, foreign drug manufacturers had announced price increases for 53 drugs, most of which were prescription drugs. In 2023, in the corresponding period, the prices of 32 medicines were raised, but even 40 medicines were reduced.
In total, since the beginning of the year, drug manufacturers have already raised prices in 718 cases.
The state regulates the maximum prices of medicines for pharmacies and wholesalers, but holders of medicine registration certificates can declare unlimited changes in the prices of manufacturers. There is also no price ceiling set for producer prices.