20 Percent Increase to Medicine Prices!

There will be a 20 percent increase in medicine prices. The new regulation was published in the Official Gazette.

According to the regulation published in the Official Gazette, the Euro rate to be used in drug pricing will not exceed 20 percent of the level of 2020 this year. Pharmacists reported that the decision meant a 20 percent increase in prices, excluding blood products. The "Decision on the Amendment of the Decision on the Pricing of Medicinal Products for Human Use", which means a 20 percent increase in prices, was published in the Official Gazette. In the article added to the decision with the aforementioned regulation, the following expressions were used: “The value of 1 Euro in TL to be used in the pricing of medicinal products for human use cannot exceed 20 percent more than the value of 1 Euro applied in the previous period for 2021. The Price Evaluation Commission convenes on the publication date of this decision and announces the Euro value.” Pharmaceutical industry representatives noted that the regulation indicated that the prices would be increased by 20 percent, effective on the day the commission's decision was published. With the change made in 2019, the exchange rate change, which was based on the determination of drug prices, started to be based on 60 percent of the Euro instead of 70 percent. Taner Ercanlı, President of the Ankara Chamber of Pharmacists, said that although the exchange rate change was calculated as 26.5 percent by the end of 2020 compared to the previous year, a 20 percent price increase was decided in the negotiations between the ministry and the pharmaceutical industry. Stating that in 2020, considering the Euro currency fixation on 3.81 for medical products, Ercanlı stated that it will increase to 4.57 with an increase of 20 percent, despite the increase close to 50 percent considering the current exchange rate, ultimately, the sector and the ministry have reached an agreement at some point. Ercanlı stated that the 20 percent price increase will be applied to all medicines, except blood products, whose prices are changed according to exchange rates throughout the year.     Source: Bloomberg HT