Both original and generic pharmas blamed National Health Fund yesterday that it is going to give up their agreement on quarterly pricing of drugs and aims to introduce monthly pricing. NHF admits that it is going to make price adjustments in November (after the already approved changes in October), but it denied it would turn to a new price setting mechanism. NHF claims that one-off price adjustments in November are due to changes in the law.
Our view: The measure of the potential price cut in November is currently unknown. The news might have a negative impact on the share price of both (22 695 HUF, -1,05%) and (36 300 HUF, 0,85%).