The State Committee for Protection  of Economic Competition of the Republic of Armenia will initiate administrative proceedings against 19 medicine companies over ungrounded rise in prices for cardiovascular, antiviral and antidiabetic medicine.

"Monitoring of the medicine market will be consistent," SCPEC chairman Davit Harutyunyan said, adding that similar problem exists in Russia as well.

"After a thorough research, the committee will submit relevant recommendations to the government," he said.