“The aim of the Interim Commission established to study the pricing structure of food products, medicines and fuel, is to discuss, together with pharmaceutical companies, the process of medicine pricing. Since 2023, a reference pricing program has been in place, and we would like to discuss with you how successful this program has been”, - stated the Chair of the Commission, Shota Berekashvili, at the opening of today’s sitting.

According to him, the Commission is also interested in identifying additional opportunities in the Georgian pharmaceutical market to ensure that the population receives the best products at the best prices.

At the sitting, representatives of pharmaceutical companies—accounting for 80% of the pharmaceutical market in Georgia—spoke about the pricing structure of medicines, hygiene and personal care products, and baby food, as well as issues related to the management of pharmacy chains and the share of state-established reference prices in the sale of medicines.

Representatives of “PSP Pharma,” “Aversi Pharma,” “GPC,” and “Impexpharm” provided the Commission members with information on the reference pricing model. As they noted, the program is progressing successfully, and while reference prices currently cover approximately 70% of medicines, increasing this share would not pose a problem for the companies.

The invited guests also discussed the volume of medicines imported from EU countries and Turkey, their quality, and the revenues generated from their sale through pharmacy networks.

The representatives of pharmaceutical companies noted that local production would make medicine prices much more affordable for the population; however, the production process requires substantial financial resources.

They also addressed the issue of baby food, noting that the products are entirely imported and that, if companies jointly apply to manufacturers and place large-volume orders, prices could be significantly reduced.

The sitting of the Commission was conducted in a question-and-answer and discussion format.

The Chair of the Commission summarized the issues discussed: “Important details emerged during the meeting. We jointly conclude that the reference pricing model is functioning successfully, enabling medicine prices in Georgia to remain lower compared to European countries. We also agree that the number of reference medicines can be increased. We are working to expand the number beyond the current 7,000 medicines to achieve full, 100% coverage. As for baby food, it is important that we also have certain mechanisms in this area, which, if successfully implemented, can yield tangible results. We welcome the idea proposed by pharmaceutical companies regarding direct procurement from manufacturers, which would significantly shorten the pricing chain. The Parliament is ready to assist and support you within its capacities in this regard”, - stated Shota Berekashvili.

The Commission, established to study the pricing structure of food products, medicines, and fuel, has completed meetings related to food prices and is currently holding meetings with relevant stakeholders to study the pricing of medicines.