Ukrainian medicine cheaper, just as good (05/17/98)

Ukrainian medicine cheaper, just as good

Eastern Economist

KYIV - Ukrainian medicines correspond to world standards and are just one-tenth the price of foreign equivalents. These conclusions were drawn by the chairman of the State Microbiological Industry State Committee, National Deputy Yurii Spizhenko, on April 20.

He added this is partly due to lack of advertisement of domestically produced goods, including those produced in the medical and pharmaceutical sector. He said the value of the Ukrainian pharmaceutical goods market is about $1 billion (U.S.) per annum, with Ukrainian products making up just 40 percent of this figure.

He advised that fees paid for the registration of medicines in Ukraine need to be increased from the current rate of $3,000 to $5,000 (U.S.) per medicine to reflect fees charged in Western countries, which reach up to $200,000 (U.S.).