Medicines in Georgia to be sold at state-fixed prices

Fixed price medicines in Georgia

Starting January 15, medicines will be sold in Georgia according to rates fixed by the state, and on February 15 all importers, distributors and retailers will be required to set a maximum price ceiling in accordance therewith.

On December 1 of last year the Georgian parliament supported the government’s initiative to establish reference prices for medicines.

In the first stage, reference prices will cover approximately 1000-1200 medicines. The introduction of this mechanism, as noted by Deputy Minister of Health Tamar Gabunia, is likely to reduce the price of medicines on the market by 40%.

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Medicines in Georgia are among the most expensive in the region. Former Minister of Health Ekaterina Tikaradze said in November 2021 that the price of medicines is a major burden on the population and “the Ministry of Health is actively working to fix the problem.”

Also in 2021, the Competition Agency published a report that the high cost of drugs is due to a lack of consumer awareness, as consumers are simply unaware of the existence of relatively cheap generics, produced internationally but having the same mechanisms of action as domestic drugs, differing only in price.

Fixed price medicines in Georgia