The prices of hundreds of common prescription medications decreased on Saturday.
The wholesale price of more than 800 Kela-reimbursed medications dropped by 1.5 percent as part of the government's cost-saving measures.
Lower prices will also trickle down to the consumer, with most of the targeted drugs prescribed for common illnesses, such as diabetes.
The popular obesity drug Ozempic is among those set to become more affordable. The price reduction targets medications that have come on the market since 2010.
"The most expensive medications are seeing the biggest absolute reductions," said Risto Holma, chair of the Association of Finnish Pharmacies.
The prices of prescription medications are based on wholesale prices set by the state, and pharmacies cannot alter these prices. This is why prescription drugs cost the same in every pharmacy in the country.
While Holma said lower prices were good news for consumers, the move may squeeze pharmacies in rural areas. For many pharmacies, selling prescription medications is already nearly unprofitable, according to the pharmacists' group.
Since the year 2000, consumer prices for prescription drugs have dropped by some 40 percent, according to Statistics Finland. Drugs — both over-the-counter (OTC) as well as prescription ones — are, however, more expensive in Finland than in Sweden.
At the start of the year, the value-added tax (VAT) on both prescription and OTC medications rose from 10 to 14 percent.