Ukraine on verge of sharp rise in drug prices

25 March 2014

Prices for drugs in Ukraine are steadily increasing, amid the ongoing political and economical crisis in the country, according to local media reports.

For the last two weeks, prices for some drugs have increased by about 15%-25% and there is a possibility that this trend will continue in the future, due to plans of the Ukrainian Parliament to adopt 7% VAT for drugs in the country.

According to Tatiana Pechaeva, chief executive of Lekhim, one of Ukraine’s largest drugmakers the biggest price increase is observed in the case of imported drugs, while prices for the domestically-made medicines remains virtually unchanged.

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