Pharmaceuticals in Georgia: 73% of revenues come from generics.
The latest financial report from Gef sheds light on the structure of the Georgian pharmaceutical market, claiming that 73% of its revenues come from generics. This figure exceeds the average value in the European Union, which is about 50%. The report also states that only 14% of all medicines presented on the pharmaceutical market of Georgia are produced in the country. This percentage has increased significantly from 5% in the early 2000s.
Since the beginning of 2022, the Georgian government has presented an initiative of a "parallel import regime" with Turkey. According to this initiative, medicines registered in Turkey are automatically recognized in Georgia. This step is aimed at increasing the variety of medicines in the country.
The pharmaceutical sector of Georgia is undergoing reforms aimed at reducing drug prices by up to 60-80%. The opening of the Turkish market has become one of the key points contributing to more affordable medical care.
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