Georgian Prime Minister Irakli Garibashvili on Monday said setting reference prices for medications would cut their costs by 40% on average.

According to the PM, the reference price system will encompass approximately 1,300 chronic and oncological drugs in the first stage, with the list of medicines continuously expanding.

The PM highlighted that the reference pricing would boost access to medicines.

Garibashvili mentioned Georgia’s decision to open its pharmaceutical market to Turkey in 2022, claiming that it has reduced medicine prices by 60-80%, saving Georgians around GEL 200 million per year.