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 of information in the Icelandic Medicinal Product Information Database and the Icelandic Medicine Price Catalogue

  • Request for publication shall be sent at least one month before the intended publication in the MCs. The same rule applies to changes which are to be published in the MCs, e.g. a new pharmaceutical form, new strength, new pack size/type, new Nordic article number etc. If a request is made with a shorter notice than one month, e.g. to prevent medicine shortage, arguments for a shorter notice is needed with the request.


Publication on new exemption medicine

  • Publication is requested no later than four working days before the Icelandic Medicine Price Catalogue comes in effect the first day of each month.


  • 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

  • From 1 January 2024 the price catalogue is published once a month, two working days before the first day of the month.  A list of the main changes and reimbursement is published in addition.

Publication of the Price Catalogue’s Exhange Rate


  • 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.