Georgian MP Levan Berdzenishvili has released comments on the current situation in the pharmaceutical market. Appearance of a new player has sharpened competition in the market, MP Levan Berdzenishvili said.
“The new player will boost competition. This issue is not questionable. We should welcome the new player. Its entrance may not bring immediate effect in terms of contraction in medication prices, but the quality of competition will increase and price declination process will be geared up. In this situation, we should expect the best products.
I would not assert anything in advance unless I have comprehensively examined the research. Anyway, if medication prices have declined, it is not ruled out that Humanity Georgia had inspired this tendency”, MP Levan Berdzenishvili said.
The politician has positively appraised the state strategy to enable the market regulate medication prices itself through encouraging competition, instead of introducing strict regulations.
“We the Republican Party follow the liberal ideology and always back efforts for promoting competitive environment. The Authorities have taken correct steps by encouraging competition”, Berdzenishvili said.
Over the past 4 years the Georgian pharmaceutical market has recorded constant contraction in medication prices. Based on the Panaskereteli Index, prices have declined on 32 medications.
This information was released by the Association of Young Financiers and Businessmen (AYFB) that provides monthly monitoring of 200 in-demand medications in the market. The AYFB reports coincide with appearance of Humanity Georgia in the Georgian market. As reported, the new pharmaceutical company distributes medications at 30% lower tariffs.