lgn.is - 08.02.2011 Procedure of maximal wholesale price review in 2011
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08.02.2011 Procedure of maximal wholesale price review in 2011
08.02.2011 - 08.02.2011 Procedure of maximal wholesale price review in 2011

On behalf of the Icelandic Medicine Pricing and Reimbursement Committee, February 2011.

Procedure of maximal wholesale price review in 2011

The Icelandic Medicine Pricing and Reimbursement Committee will in the coming months review the maximal wholesale prices in Iceland, according to law nr. 93/1994 with later changes and regulation 213/2005 with recent changes and additions.

The foundation for the price review 2011 are sales figures for the year 2010 multiplied by wholesale prices in the December pricelist 2010. The price review is based on January prices in Iceland and the comparable countries (the Nordic countries) and the exchange rate in the pricelist in January 2011. 

Wholesale prices on all items in the pricelist are reviewed irrespectively of their turnover. Those items that had an annual turnover less than 3,5  million IKR in the year 2010, can request up to 15% premium on the average price in the Nordic countries. For hospital products with the same annual turnover, up to 15% premium can be requested on the lowest price in the Nordic countries. This has to be requested for each item.

All pharmaceuticals are categorised into hospital products, original products, parallel imported products and generics, as the pricing regulations varies for these categories.

Original products: price is compared to the average price on the corresponding original product in the reference countries, (Nordic countries).

Generics: price is compared to the average price of the corresponding generic in the reference countries, (Nordic countries).

Parallel imported products: Price should be lower than price on the corresponding original or generic product in Iceland.

Hospital product: price may not exceed the lowest price of the four Nordic countries.

This review will be performed in three sections on all pharmaceutical products on the Icelandic market in December 2010.

The hospital products are in the first section (659 items).

In the second section are items in the ATC category A01AA01 – L04AX03 (970 items) and finally in the third category are items in the ACT category M01AB01 – V08CA11 (966 items)

The first part of the review is planned to be effective in the pricelist 1st. of April and the completion of the review is planned to be effective in the June pricelist.

The pharmaceutical representatives will receive letters containing the price reference in excel format and they will have the possibility to give notification and/or corrections if any on the committee decision within 21 days.

The committee will also publish on the homepage a list of products which prices will be lowered in the following pricelist. This will be done before 10th. of the month prior to when the corresponding pricelist will be effective. This is done in accordance to Article 14 of ADMINISTRATIVE PROCEDURES ACT, No. 37/1993

Stakeholders can then give notification to the committee if needed according to Article 13 of the ADMINISTRATIVE PROCEDURES ACT.

The committee can retract or review its decision with respect of new information or changed circumstances.