Lifting Price Caps on OTC Medications from April 2025
A new presidential decree aimed at boosting the development of the pharmaceutical industry has been announced, with a range of measures set to come into effect on April 1, 2025. The decree focuses on improving pharmaceutical production, updating pricing regulations, and increasing market accessibility.
One of the key points of the decree is the assignment of additional responsibilities to the Agency for the Development of the Pharmaceutical Industry. These responsibilities include promoting the development of industries related to biologically active supplements and cosmetic products, collaborating with local authorities to monitor investment projects of regional pharmaceutical enterprises, and digitalizing the pharmaceutical sector.
Furthermore, by the end of 2025, the laboratory of the Pharmaceutical Products Safety Center will undergo qualification processes by the World Health Organization. This move is aimed at ensuring the highest standards of safety and quality in pharmaceutical products.
Starting from April 1, 2025, several significant changes will be put into effect. Price caps will now only apply to prescription medications, and for medications with identical compositions produced under different trade names by a single manufacturer, the lowest reference price will be applied. Additionally, the Pharmaceutical Products Safety Center will automatically review and adjust reference prices in foreign currencies as needed, without the need for a request from entrepreneurs.
Overall, the new decree aims to streamline processes in the pharmaceutical industry, improve standards of quality and safety, and make medications more accessible to the general public. These measures are set to have a significant impact on the industry and are expected to drive growth and innovation in the sector.
