“The meeting was interesting and productive. The Prime Minister, Ministers, government, and commission members listened carefully and took notes. The government asked us to present proposals, which will make prices of medicines more affordable,” said Paata Kurtanidze, Founder of Aversi pharmaceutical company, following the meeting of the Cross-Government Coordination Commission on Food Prices with representatives of pharmaceutical companies.

“Business in general has a golden rule. I have been in business for 34 years. The cheaper you sell with less price increase, the more you sell and the more you make a profit. The more expensive you sell with more price increase, the less you sell and the less you make a profit. Finally, you go bankrupt. It is in the interest of businesspersons to sell products with less price increase, at a cheaper price, especially in the case of medicines for the population to buy them. If people do not buy, there is no business,” he said.

According to Paata Kurtanidze, a coordination council, with the participation of representatives of pharmaceutical companies, will be established to work on the proposals, adding he was glad that the government expressed readiness “to implement these proposals in practice.”

Aversi Founder remarked that the previous minister issued a decree according to which the registration of drugs in Georgia is the strictest in the world.

“There will no longer be many medicines in the country that have relatively low prices. The population will have to buy expensive analogues instead. We have heard from the government that it will be discussed, whether it will be repealed, changed, or revised. This is the February 29, 2024, decree. The ways to make the prices of medicines cheaper will be revealed through joint work.

Currently, there are 10,000 medicines in circulation in Georgia. 7,000 of them are available at the reference price. The ministry is gradually adding those 3,000. Pharmaceutical companies, due to competition, sell more than 20% of those 7 thousand at a lower price than the reference price, as I remarked at the commission meeting. The competition in the pharmaceutical sphere is acute.

The government wants, and companies wish to make the prices of medicines as cheap as possible. That is the essence and goal of business,” he concluded.

Prime Minister Irakli Kobakhidze met representatives of pharmaceutical companies within the Cross-Government Coordination Commission on Food Prices.