Pricing and Reimbursement

Pricing and reimbursement

The Icelandic Medicines Agency makes decisions on prices of medicines with the goal of the law of medicines as a guide. That the use of medicines in Iceland is based on a rational and cost-effective basis, as well as determining reimbursement as appropriate according to the law of medicines and the regulations based on them

Important dates

Publication of new medicines

  • Must be received one month in advance
  • Example: Publication is requested no later than November 30th if publication is January 1st

 

Publication on new exemption medicine

  • Publication is requested no later then four working days before the Icelandic Medicine Price Catalogue comes in effect on the 1st or 15th of each month.

 

Re-publication

  • Re-publication must be requested before the 6th of each month in order to be published in the next Medicine Price Catalogue

 

Price change in agent price

  • Price changes which should be published in next months Medicine Price Catalogue can be submitted on the 1st – 10th of each month

 

 

 

Publication of the Icelandic Medicines Price Catalogue

  • The first file of every month comes out two working days before 1st of each month. A list of the main changes and reimbursement is published in addition.
  • The second file of each month: Two working days before 15th of each month the Medicine Price Catalogue is made available. The second file is published with new exchange rate and new exemption medicine. No new marketed drugs or changes are in the second file. However, there is a possibility to correct the file if needed.

 

Publication of the Price Catalogue’s Exhange Rate

 

Other

  • During the period 11-12th of each month, a list of the drugs that have been requested to appear in the Medicine Price Catalogue on the 1st of the following month is published. The list is available on the IMA website. 
  • On the 15th of each month, a list is published from the Icelandic Health Insurance website of the medicines that have been listed as being out of stock for more than 90 days. The list is available on the IMA website.