From 2015, the prices of medicinal products are updated on an annual basis so that any reductions of the prices in the reference countries are reflected in the prices of the medicines in Cyprus.
Marketing Authorization Holders or authorized pricing representatives submit each year the proposed new prices of medicinal products as well as the prices in the reference countries. The submitted data is crosschecked by the Pharmaceutical Pricing Sector and the provisions of the relevant Ministerial Decree are applied.