In accordance with Icelandic pharmaceutical law, Lyfjastofnun is required to regularly review the basis for medicine pricing, at least every two years, and propose changes if the results of the assessment warrant such adjustments.

Scope and Implementation of Price Revision

The revision will apply to marketed originator medicines for human use, identified with the designation "1" in the "Medicine Status" (staða lyfs) column of the Icelandic medicine price list.

The review will be based on the prevailing medicine price list and the exchange rates as of 1 October 2026. Prices for product numbers that were not sold in 2025 will not be included in the review.

Maximum wholesale prices will be assessed paralell to the prices of the same medicines in reference countries: Norway, Denmark, Sweden, and Finland.

The assessment will also take into account relevant exemptions for low-turnover and low-cost medicines, antibiotics, ophthalmic medicines, and medicines primarily intended for children. Additionally, special circumstances related to medicines experiencing shortages and the necessity of ensuring their availability will be considered.

Procedure and Planned Implementation Date

Lyfjastofnun intends to notify relevant stakeholders of the proposed decisions no later than 13 November 2026. A deadline of 11 December 2026 will be provided for submitting comments and objections.

Following a review of responses from stakeholders, final decisions will be made regarding the maximum wholesale prices for the medicines included in the revision.

The results of the revision are scheduled to be implemented with the publication of the updated maximum wholesale prices in the medicine price list, effective as of 1 February 2027.