Strong Armenia party guarantees a 20% reduction in drug prices

ArmInfo. Narek Karapetyan, a board member of the "Strong Armenia" party,  has presented the third point of the program proposed by Samvel Karapetyan, leader of the political party, businessman, and philanthropist.

Narek Karapetyan recalled that the "five steps to a strong Armenia"  economic concept presented by Samvel Karapetyan includes the creation  of 300,000 jobs, especially in the regions, a 0% tax break for small  businesses, a 20% reduction in drug prices, guaranteed purchase of  harvested crops, and the construction of 20,000 affordable apartments  for young and large families. In his video address, he focused on the  component of the program related to a  20% reduction in drug prices.  Narek Karapetyan emphasized that, according to research, one in five  citizens is currently poor and has difficulty purchasing food.  Meanwhile, middle-aged people face with a dilemma: whether to buy  food or medications.

As Narek Karapetyan noted, if they come to power, the drug  registration process will be simplified.  Drugs registered in Europe  will automatically be registered in Armenia. Given the strict  requirements for pharmaceutical companies in the EU, there is high  confidence that drugs registered in EU countries meet all quality  requirements. As a result, the number of registered drugs in the  country will reach 8,000-9,000, which, in turn, leading to lower  prices.

Another pricing issue facing the country is the procurement of drugs  from intermediaries rather than directly from manufacturers. Upon  coming to power, it will be proposed to start purchasing directly  from manufacturers, resulting in a significant reduction in the  number of intermediaries and, consequently, a notable decrease in  prices. Narek Karapetyan noted that because of the limited  registration of medicine, people often purchase them abroad and  smuggle them into the country illegally, or buy them at exorbitant  prices on the black market,  often stored in poor conditions and can  result in even more serious health problems. Liberalizing the  pharmaceutical market and expanding the list of registered  medications will help resolve shortages, Narek Karapetyan said.