In line with a decision made by the Prime Minister of Georgia, an Interagency Commission for Regulation of Prices on Pharmaceuticals will be mandated to set threshold retail sales prices for specific items of medication.

In line with the applicable Government Decree, which is signed by Irakli Garibashvili, amendments have been made to the original Decree on the State Regulation of Prices on Pharmaceuticals and on Adoption of Rules, Terms and Conditions of Regulation. Considering the high public and state interests, the referred Interagency Commission for Regulation of Prices on Pharmaceuticals will be mandated to set or introduce threshold retail sales prices for specific items of medication and to address all issues related to it.

Interagency Commission is composed of the Ministry of Health; Ministry of Economy and Sustainable Development; Ministry of Finance; Revenue Service of Georgia; National Centre of Intellectual Property; National Statistics Office; National Competition Agency; along with two independent members of professional profile – pharmacologist and pharmacist and a Director of the Pharmaceutical Regulation Agency. The Commission will be entitled to define different timelines and conditions for the enforcement of prices defined on pharmaceuticals. In line with decisions made by the Commission, prices will be published by the Ministry of Health in a relevant catalogue. Updated prices will come into effect in 1 months from the date of publication in the referred catalogue of prices.