Uzbekistan Plans to Adjust Medicine Price Cap Amid Market Fluctuations
The Pharmaceutical Agency in Uzbekistan is set to revise the maximum allowable prices for medicines, as announced by Director Abdulla Azizov. Efforts to improve the reference pricing mechanism and reduce bureaucratic hurdles have already been put forth towards the Cabinet of Ministers.
During a recent press conference, Azizov addressed concerns raised by journalists, particularly regarding the lifting of price restrictions on over-the-counter (OTC) drugs. While initial reports claimed that this move would not lead to price hikes, some regions have seen an increase in medication prices. Azizov reassured that this is a temporary phase and expects prices to stabilize within the next 6 to 7 months.
In discussing the VAT rate on medicines and the drug labeling system, Azizov revealed ongoing discussions with Deputy Prime Minister Kuchkarov to address these issues. He highlighted the importance of considering medicines as socially significant products, often warranting reduced VAT rates in developed countries.
Regarding the drug labeling system introduced in 2022, Azizov pointed out that only a fraction of pharmacies in Uzbekistan are actively utilizing the system. Plans are in place to implement a cleansing mechanism to rectify discrepancies in warehouse data and ensure strict controls are enforced throughout the supply chain.
As Uzbekistan endeavors to enhance its pharmaceutical sector, initiatives such as increasing state purchases of medicines and streamlining pricing regulations are being pursued to ultimately benefit the nation’s healthcare system and its citizens.
