Mar 26, 2014

Farmak to Sign Insulin Price-Fixing Memorandum with the MOH

Farmak, a national pharmaceutical manufacturer, has signed a Memorandum of Understanding with the Ministry of Health of Ukraine. This document stipulates retention of wholesale prices for insulin preparations fixed as of 01 January 2014.

The Memorandum was signed by Oleg Musiy, Minister of Health of Ukraine, and the authorized representatives of 5 insulin manufacturers.

The document also envisages that the pharmaceutical manufacturers will ensure production and supply of a wide range of insulin preparations at the domestic pharmaceutical market, timely and full satisfaction of demand for such pharmaceutical products; cooperate in reducing the cost of such medicines for the public by aligning pharmacy prices with wholesale prices of manufacturers and suppliers, as well as ensure the formation of a transparent competitive environment based on compliance with the antitrust legislation.

In turn, the MOH undertakes to engage representatives of pharmaceutical public organizations in the preparation of draft Government decisions on state regulation of insulin prices by setting a threshold level of wholesale prices for these preparations based on comparative (reference) prices and the introduction of a cost reimbursement system, as well as development  and conduct (by 01 September 2014) of a public discussion of these projects, and publication of threshold levels of wholesale prices for insulin preparations by 01 January 2015.


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