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Putin signed law on cabinet’s right to freeze drug prices in case of epidemic

27 March 2020 06:47 (UTC +04:00)

Russian President Vladimir Putin signed a law on the right of the government to fix prices for medicines and medical devices in case of the threat of the spread of an infectious disease that is dangerous for others, APA reports citing TASS.

According to the document, the government will be able to set the maximum possible retail prices for medicines and medical products that are not included in the list of vital necessities, as well as maximum selling prices for producers and allowances for them, taking into account value added tax. The government will execute right in the event of an epidemic, emergency, or if the cost of drugs is unreasonably increased in several regions by more than 30% within 30 days. The government will have the right to fix the prices of medicines for a period not exceeding 90 days.

One of the authors of the law, Deputy Andrei Isaev, previously emphasized that the development of the document is an "extraordinary act "in the context of combating the spread of coronavirus, as well as the execution of instructions from the Russian President. He also recalled the situation with a "sharp unreasonable jump in prices "for medical masks in early 2020.