The maximum price of 1,613 prescription drugs will be reduced by an average of 7.4% starting on January 1, 2023, as informed today (Tuesday) by Deputy Director of Planning, Budgeting and Pricing at the Ministry of Health and the supervisor of prices at the Ministry of Health, Haim Hofart.
This means that for medicines that cost more than - NIS 180, medicines for which the insured pay 10% of the price (for cheaper medicines we pay a deductible of NIS 18 which will not change, MIA).
The reason for the reduction in the price of medicines is the strengthening of the shekel against foreign currencies.
The mechanism by which the price is determined is according to the average retail prices of the prices of the preparations and medicines in the designated countries - the "quote" countries (Belgium, Hungary, Spain, France, Great Britain, Germany and the Netherlands) according to the three lowest prices among the countries and the changes in the exchange rates of the shekel against the MET "H.
The reason for the reduction in the price of medicines is the strengthening of the shekel against foreign currencies.
Shekels (illustration), photo: Reuters
The price control is on the maximum price for the sale of the drugs, and that the consumers' deductible to the health insurance funds is also derived from it, in accordance with the collection plans of the health insurance funds.
The price of non-prescription drugs remains the same as in previous years.
Haim Huppert, Deputy Director of Planning, Budgeting and Pricing at the Ministry of Health stated that "the pharmaceutical market in Israel is dynamic, high-quality and diverse, as many innovative drugs have entered the State of Israel in recent years.
Since medicines are a basic and essential product, medicine prices are under the supervision of the Ministry of Health.
Since the entry into force of the new quotation mechanism in 2018, the prices of controlled prescription drugs have decreased by approximately 25%.
Haim Huppert, photo: no credit
"The drop in drug prices is done while balancing the price and the ministry's commitment to maintaining the dynamism and innovation in this market. The current drop in prices is also expected to lead to a drop in the co-payments paid by health insurance policyholders for drugs."
Prof. Nachman Ash, Director General of the Ministry of Health added: "The supervision of drug prices is an important tool in curbing the rise in drug prices, which leads to a drop in prices.
This is the way to make a wide variety of medicines accessible to the entire population, which allows more medicines to be included in the state health care basket and to lower the co-payments which are derived from the list price.
We are working to continue the trend of reducing self-participation in other axes as well."
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