Shahin Mustafayev: Regulated medicine prices significantly decreased

Shahin Mustafayev: Regulated medicine prices significantly decreased
# 31 July 2015 08:47 (UTC +04:00)

Baku. Farid Mirzayev – APA. “Medicine prices, regulated under the Tariff (Price) Council's decision on the price of medicines in accordance with the instructions of Mr. President, significantly decreased.

Prices of 20% medicines dropped by more than 3 times, 40% by more than 2 times,” Azerbaijani Minister of Economic Development Shahin Mustafayev told Azerbaijan newspaper, APA reports.

The Minister said that totally prices of 90% of medicines decreased. “Prices of remaining medicines remained unchanged.”

Mustafayev noted that transparency will be provided through regulation of the prices. “Every citizen will be aware of the prices of the medicines. The regulation of prices enables people to buy medicine for the same price at all pharmacies and eliminates artificial price rise. Furthermore, the retail sale price will be labeled on medical products, and it will also be available on official web sources and in the mass media so that will ensure public control over prices,” he said.

The minister added that these reforms will open up further opportunities for citizens in need of medical products to cut back on their expenses, state control on the medical products market to strengthen, and tax evasion cases to be decreased.

“On the other hand, it will help expenses of the state budget diminish and will contribute to the development of the insurance system by allowing insurance companies to economize on particular expenses. Ultimately, it will tempt consumers to purchase medical products at more acceptable prices. And pharmacies will begin competing on quality rather than price, which will in turn result in the heightening of service quality,” the minister stressed.

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