Economy in Turkey: Price hike for pharmaceuticals on the way

The decision titled “Amendment to the Decision on the Pricing of Human Medicinal Products” has been published in the Official Gazette, and the changes will take effect starting tomorrow. The Euro exchange rate used for medicine pricing in Turkish Lira increased by 23.5% in October.

The Euro rate used for pricing medicines has been updated and increased. The Euro value used for pricing, in Turkish Lira, has been raised by 23.5%, from 17,5483 TL to 21,6721 TL, leading to an increase in medicine prices.

Changes were also made to products under price protection, with the threshold value updated in line with the Euro rate increase. The threshold value is now set at 74.72 TL for price-protected products and 39.05 TL for other products.

The new prices will be effective as of October 25.