The Supervisor of Prices in the Ministry of Health, Yair Assaraf, CPA, announced today that the maximum prices of prescription drugs will be reduced by an average of 3% on December 2. This reduction was made possible, in part, by currency fluctuations, in conjunction with price drops in the countries from which the drug prices are quoted. This trend has been maintained in spite of the increase in VAT that took place earlier this year. This reduction reinforces a three-year continuum during which the prescription drug prices have gradually gone down. The cumulative reduction in prescription drug prices in the last three years stands at 24%. Deputy Minister of Health, MK Rabbi Yaakov Litzman, commended the continuation of the downward trend and emphasized the importance of the supervisory activity as well as the setting of price caps, all of which form the basis for calculating the patients’ copay. This – in an effort to protect the patients in need of prescription drugs. “There is still scope left for further price reductions and we are taking the necessary measures to make it happen”, said the Deputy Minister. The Director General of the Ministry of Health, Prof. Roni Gamzu, noted that the supervision of the drug prices was extended this year to unregistered prescription drugs, which are imported under regulation 29 to the Pharmacists Law (Preparations), 1986. Furthermore, the Ministry of Health is preparing new instructions regarding the size of drug packages, in an effort to prevent the reduction in the size of the drug packages – a move which effectively raises the copay cost per drug unit.