The EEC agreed to create a common market of medicines

Russia and other countries of the Eurasian economic Union (EAEC) have agreed to establish a common market of medicines. At the meeting of the Eurasian intergovernmental Council, which was held on Wednesday, November 16, in Moscow, the heads of governments of participating countries signed a package of relevant documents, reports TASS.

Uniform and transparent norms prescribed in the documents will allow the elimination of unnecessary trade barriers within the EEU, reduce costs and increase competition, which in turn will have a positive impact on the cost of medicines, say representatives of the Eurasian economic Commission.

It is noted that any state of the EEU will be able to carry out the procedure of determination of interchangeability of medicines in accordance with national legislation. States reserved the right to adjust the pricing, retail and administration. Also at the national level will conduct the procurement of medicines and reimbursement of expenses and to regulate the advertising market in this area.

For entry into the common market provides for a transitional period. So, until December 31, 2020 manufacturers will be able to make decisions, what rules to register medicines.

Recall that in the composition of the Eurasian Union, besides Russia, includes Armenia, Belarus, Kazakhstan and Kyrgyzstan.

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