New rule for better controlling medicine prices

The Government has recently issued Decree 88 to tighten the declaration and re-declaration of medicine prices by pharmaceutical traders.

The Government has recently issued Decree 88 to tighten the declaration and re-declaration of medicine prices by pharmaceutical traders.

Accordingly, pharmaceutical traders may buy and sell medicines at declared or re-declared prices after dossiers for declaration or re-declaration of medicine prices are submitted by medicine manufacturers, processors or importers and received by competent state management agencies.

In case a medicine manufacturer, processor or importer reduces the latest declared price of a medicine, the pharmaceutical trader may immediately buy and sell such medicine at the reduced price, and concurrently declare the price reduction based on the downward fluctuation of the price-forming element
 

Pharmaceutical traders are required to fully comply with regulations on declaration, re-declaration and notification of medicine prices and take full responsibility before law for accuracy and truthfulness of medicine price declaration and re-declaration dossiers; use declared and re-declared prices in conformity with the state management requirements of medicine prices to serve the price stabilization and state management, examination and inspection of prices; and submit to inspection and examination by competent state agencies.

Under the Decree, pharmaceutical traders are prohibited from offering wholesale or retail prices higher than declared or re-declared prices of medicine manufacturers, processors or importers. Those that commit violations regarding medicine price declaration will face administrative fines in the fields of prices, charges, fees and invoices.

By: VLLF