Nicosia: The Ministry of Health launched on Monday a new digital platform for the pricing of medicinal products. Minister Michael Damianos spoke of an important step forward in the way Cyprus manages the pricing processes of pharmaceutical products.
According to Cyprus News Agency, speaking at a press conference in Nicosia, Damianos noted that drug pricing is a complex process that requires accuracy, speed, and the determination of a ‘fair’ price for each pharmaceutical product.
The Minister said that the new digital platform was designed with all users and industry stakeholders in mind, ensuring that applications are processed faster with real-time monitoring and reduced administrative burden.
He explained that submitting pricing requests becomes easier, simpler, and faster, allowing for more open communication between the Ministry and pharmaceutical companies, which helps to eliminate bottlenecks and increase trust in the pricing process.
All interested parties will be briefed by support teams on how to table their applications to ensure a smooth transition, the Minister said.