OREANDA-NEWS The Federal Antimonopoly Service has agreed to increase the ceiling price of a number of insulin positions from 5.5% to 28% for the first time in several years, Kommersant writes, according to Gazeta.ru.

The increase in price caps will apply to forms of insulin lispro, biphasic insulin aspart and biphasic human genetically engineered insulin. The price increase was justified by higher production costs amid anti-Russian sanctions.

Market participants pointed out that the price increase is happening for the first time in several years. During this time production costs have risen seriously. In addition, in view of the sanctions, logistics costs have increased several times.

Analysts believe that domestic producers will raise prices gradually to remain competitive. In addition, the rise in prices will not have a significant impact on insulin sales.

Earlier Igor Krasnov, the Prosecutor General of Russia, during the extended session of the departmental board with participation of the RF President Vladimir Putin stated that increase of prices for drugs in pharmacies in many Russian regions was caused by inexplicable greediness of traders.