Rūta Pumputienė’s commentary “In the Jungle of Pharmaceutical Pricing” for the journal IQ: The Economist

The lawyer Rūta Pumputienė, who works in the field of healthcare and Life Sciences, has commented on how the prices of pharmaceuticals are calculated in Lithuania.

“There are several factors that determine the high cost of pharmaceuticals in Lithuania. One of them is the fact that the price of a medicine in Lithuania is determined by comparing its average price in 8 European countries. These reference countries are: Bulgaria, the Czech Republic, Estonia, Latvia, Poland, Romania, Slovakia and Hungary.”

“According to the Lithuanian legislation, a product introduced into the market in Lithuania cannot exceed 95 percent of the average price of the reference countries, so the final price of the medicine in Lithuania is increased by the reference countries’ highest indicators. There are real cases where a medicine has been released in the market at the same price in all the 27 EU Member States; however, within 16 months the price can differ by as much as 43 percent between the countries that pay the most and the least,” explained R. Pumputienė.

However, this is not the only factor involved in determining the prices of medicines in Lithuania.

Read more in Lithuanian at: https://naujienos.alfa.lt/leidinys/iq/vaistu-kainu-dziunglese/

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