Georgia to introduce reference prices for nearly 700 additional medicines

Georgia’s Ministry of Health is set to establish reference prices for nearly 700 additional medicines with active registration status, in line with recommendations made by the parliamentary temporary commission studying pharmaceutical pricing.

According to the Ministry, the move marks the next stage of the reform launched in 2023 and will cover widely used medicines, including anti-inflammatory drugs, treatments for cardiovascular diseases and other commonly prescribed medications.

The Ministry said the process would continue in the future, with the overall aim of improving public access to medicines.

Health Minister Mikheil Sarjveladze met representatives of the pharmaceutical sector to present the planned changes. During the meeting, Head of the Strategic Development and Analytics Department Lela Sulaberidze provided detailed information on the initiative to pharmaceutical companies and industry associations.

Sector representatives have been given about two weeks to submit their views to the Ministry of Health, which said their opinions would be taken into account before a final decision is made.

Sarjveladze stated that, as with previous stages of the reform, the introduction of reference prices for the new medicines is expected to significantly reduce prices and improve accessibility for citizens, particularly for frequently used drugs.

He added that the process would continue and maximum price caps would also be introduced for other medicines.

Under the reference pricing reform, the state sets the maximum permitted retail price for medicines, prohibiting sales above that threshold. Reference prices have already been established for more than 7,500 medicines, with the ministry stating that pharmaceutical prices have fallen by an average of 40 per cent as a result of the reform.