Legal Alliance Experts Informed on Reference Pricing Mechanism within a New System of Wholesale and Retail Prices Declaration

On July 20 pharmaceutical market representatives participated in Legal Alliance workshop “Another Change in the System of Wholesale and Retail Prices Declaration: Returning to the Reference Pricing”. Speakers Natalia Lavrenova (Counsel) and Natalia Modlenko(Associate) revealed the insights into the following:

• Reference pricing in line with the new Draft Resolution of the Cabinet of Ministers and the expected terms of the new model implementation.
• Principles of reference pricing.
• Documents required for submission during the prices declaration.
• Review duration terms.
• Discussed mechanisms of wholesale and retail prices calculation and approaches to price assessment.
• Documents review procedures for prices declaration.
• Perspectives of implementation of automatic price adjustment in case of currency rate fluctuation.
• “Traps and pitfalls” of the new price declaration procedure.

The Draft Resolution of the Cabinet of Ministers provoked a lively discussion; in particular it raised a number of practical questions regarding the application of the new procedure of wholesale and retail prices assessment and declaration. Legal Alliance continues tracking the adoption and enactment of the new reference pricing principles and will inform on the adjustments in this area.

“The new reference pricing system is of a great importance for pharmaceutical market and for the whole country. Taking into consideration the expected terms of enactment of the new reference pricing model, we deem this workshop as quite important and useful. On the one hand, the market participants expressed the problems they may face when assessing and declaring the prices under the new procedure. On the other hand, being acquainted with the main principles of the expected procedure the market participants shall be well prepared to the new procedure” - commented Natalia Lavrenova, Legal Alliance Counsel.