On 20 June 2025, the Bulgarian competition authority (Commission for the Protection of Competition – CPC) announced that it would start a sector inquiry of the wholesale and retail markets for medicines (see, attached decision of 19 June 2025). The inquiry will focus on both structural aspects of the market and the conduct of specific market players. The structural analysis will target the regulatory framework, market dynamics, market concentration, entry barriers, and market participants. However, if there are indications that particular conduct of specific firms gives rise to competition law infringements, the CPC will pursue these firms.

The CPC decided to start its investigation when it observed medicine shortages in a range of therapeutic fields, including oncology, diabetes, and antibiotic treatments. While the lack of availability of specific medicines is of concern, the CPC will also investigate pricing. One focal point is the scheduled introduction of the Euro in Bulgaria on 1 January 2026. The CPC wants to minimise unjustified price increases when the Lev is replaced by the Euro, a risk which on 19 June 2025 had caused the CPC to start a sector inquiry of the market for basic foodstuffs as well.

The review of medicine markets takes place against the backdrop of the sizeable co-payments for medicines required from patients which, according to the available evidence, caused households to spend 34% of their income on healthcare in 2024, while the average in the EU was only 14.5%. The CPC expects this ratio to worsen even further in the coming years.

Finally, the CPC will also look at the possibly discriminatory treatment of pharmacies by wholesalers and parallel exports of medicines that are subject to an export ban.