Pharmacists will not suffer income loss: They will benefit proportionally from price increases

The new regulation by the Ministry of Health ensures that pharmacists will benefit equally from the exchange rate increases in medication prices. The aim of the regulation is to prevent pharmacists from experiencing income loss. In an announcement regarding the regulation published in the Official Gazette yesterday, it was stated that medication prices are updated annually according to the changes in the periodic euro exchange rate and in accordance with the “Communiqué on Pricing of Human Medicinal Products.” The announcement highlighted that this update is based on a certain percentage of the average euro value of the previous year, and the current value is determined within the framework of budget discipline as in other countries. It was also mentioned that the regulation covers not only domestic medicinal products but also imported medications. Due to the lack of annual updates in the current regulation, it was noted in the announcement that pharmacy profit margins remain fixed, leading to many medications being sold at a low profitability level by surpassing the upper limit. The announcement further explained that pharmacist profitability margins are set at 28% for drugs in the first tier (up to 328 liras), 18% for drugs in the second tier (328-657 liras), and 13% for drugs in the third tier (above 657 liras). The regulation published in the Official Gazette yesterday was stated to provide a significant advantage for pharmacists in the announcement, which mentioned, “Pharmacists’ profitability tiers will now be redefined with every exchange rate update period. This means that the base price tiers determining pharmacist profits will increase proportionally along with the medication price updates. Pharmacists will benefit equally from medication price increases and prevent income losses.”