AZE.US
Consumers in Azerbaijan spent 912.7 million manats, or about $537 million, on medicines, medical supplies and pharmacy products during the reporting period, according to the State Statistics Committee.
The figure was 182.8 million manats, or roughly $108 million, higher than during the same period last year, representing an increase of approximately 25%. The dollar equivalents are based on the Central Bank of Azerbaijan’s official exchange rate of 1.7 manats per U.S. dollar.
Pharmacist Galib Mammadov said price increases have affected certain cardiovascular medicines, painkillers and drugs used to treat nervous system conditions.
Depending on the medication, prices have risen by between 10% and 25%, with the average increase for the affected products estimated at about 20%.
Some medical devices have become even more expensive. Blood pressure monitors, hearing aids and other medical equipment have increased in price by 25% to 30% in some cases. For certain products, the increase has reached 50%.
Prices for baby food and specialized infant nutrition have also risen noticeably, with increases ranging from 15% to 30%.
Mammadov attributed the higher prices primarily to rising transportation, customs and other operating costs faced by importers and retailers.
He said Azerbaijan could reduce its dependence on imported medicines by gradually developing domestic pharmaceutical production.
As an initial step, companies could import active ingredients or medicine in bulk form and package the products locally before moving toward full-scale manufacturing.
The country could begin with widely used medicines, including blood pressure drugs, antispasmodics, painkillers and antibiotics, he said.
The Analytical Expertise Center said medicine prices are regulated by Azerbaijan’s Tariff Council and that the center itself does not determine pricing policy.
AZE.US