The following is a translation of announcement of the price revision. The translation is a service to you and is not in itself a legally binding document. The official document is the Icelandic version.
The Icelandic Medicines Agency will in 2021 review the maximum wholesale prices in Iceland, according to regulation no. 1414/2020, article 8.
The review is planned to start in June 2021 and the first part to be effective in the pricelist for October 2021. The last part is scheduled to appear in the November pricelist. The price review will be based on June pricelists in Iceland and the comparable countries (the Nordic countries) and the exchange rate of the Icelandic krona in June 2021.
All product numbers with turnover will be reviewed in regards to price. Products with turnover less than 6,0 million ISK, (wholesale price without VAT * no. packages), are allowed up to 15% markup from average price, for medicines distributed through pharmacies. Medicine classified as high cost permission products with turnover less than 6,0 million ISK are allowed up to 15% markup from lowest price in the comparison countries.
The review will be in three parts.
- High cost permission products, "Leyfisskyld lyf" Published in the October 2021 price catalogue.
- ATC-groups, A-V. Published in the November 2021 price catalogue.
- Exemption medicines. Published in the January 2022 catalogue for exemption medicines.
The review will be in four parts.
High cost permission products, „Leyfisskyld lyf.“ Published in the September 2021 price catalogue. ATC-groups, A-J. Published in the October 2021 price catalogue. ATC-groups, J-V. Published in the November 2021 price catalogue. Exemption medicines. Published in the December 2021 price catalogue for exemption medicines.
A list of products which prices will be lowered in the following pricelist will be made available on the agency‘s website.
Original products: Price is compared to the average price of the corresponding original product in the reference countries (Nordic countries).
Generics: Price is compared to the average price of all corresponding generic in the reference countries (Nordic countries).
Parallel imported products: Price should be lower than the price of the corresponding original or generic product in Iceland.
High cost permission product: Price may not exceed the lowest price of the four Nordic countries. Tendered products can be published with average price.
Exemption medicine price list
Medicines on the exemption price list with turnover more than 4,6 million ISK will be reviewed.
4,6 – 7,0 million ISK are allowed up to 17,3 % higher than price in comparison countries.
>7,0 million ISK are allowed up to 2,3 % higher than price in comparison countries