The Ministry of Health advises that maximum retail prices for prescription medicines were reduced on December 3 by an average of 10.60% as compared to last year

Yair Assaraf, CPA, the Supervisor of Prices in the Ministry of Health, advised that maximum retail prices for prescription medicines were reduced on December 3 by an average of 10.60% as compared to last year.
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, as well as the change in VAT that took place during the year.
It should be emphasized that this decrease includes the 5.37% price decrease effected on 15-Jun-15 following the change in the exchange rate against the Euro, under the provisions of the Prescription Medicines Supervision Decree.
Also, this reduction strengthens the trend in recent years of reductions in the prices of prescription medicines.   The Minister of Health, MK Yakov Litzman, commended the continuation of the trend of reduction in prices of prescription medicines, and emphasized the importance of the supervisory activity and the setting of price caps, with the aim of protecting the patients in need of these medicines.
This reduction is consistent with the Ministry’s policy of strengthening health care services and making them accessible to the citizens of Israel.   The Director General of the Ministry of Health, Moshe Bar Siman Tov, emphasized the complexity of the price determination process and the trend of price reduction in recent years while maintaining the quality, availability and supply of medicinal preparations.