Media allegations on the rise in medicine prices are manipulative

Media allegations on the rise in medicine prices are manipulative

The FAS Russia warns officials of baseless allegations on the rise in medicine prices. Such allegations can lead to artificial stimulation of the demand for vital medicine.

The antimonopoly service recalls that the prices for medicine included in the list of vital essential medicine are regulated by the state and cannot be higher than the established limits.

To date, a balanced pricing system designed to prevent pharmaceutical manufacturers from rising prices for vital medicine and, at the same time, preserve the profitability of their production and supply, has been built in Russia.

To prevent the shortage of vital medicine due to the unprofitability of their production, the Government of the Russian Federation adopted Resolution No. 1771. The mechanism prescribed in the document allows not only to identify a possible shortage of vital medicine in advance but also to set prices for them at an economically reasonable level and thereby ensure their presence in the market.

To date, the FAS Russia has already set 61 new economically reasonable prices for 22 medicines, ensuring their presence in the market. In particular, we are talking about the prices for such vital medicine as etoposide, vincristine, penicillamine and cyproterone.

For reference:

The antimonopoly service revised more than 14 thousand prices for vital medicine in 2020. The FAS Russia compared the prices at which the medicine are being sold by pharmaceutical companies in Russia to the prices for the same medicine in the benchmark countries [1].

As a result of the review, the FAS Russia reduced 7 thousand prices for vital medicine at an economically reasonable level, that is, at the level of benchmark countries against Russia. On average, the price reduction was equal to 35%.

[1] Benchmark countries are the countries with similar economies in healthcare, the principles of price regulation and medicine provision. The list of these countries is approved by the Government of the Russian Federation.

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