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15/10/2012
New Drug Price Deal Agreed
The pharmaceutical industry and the State have reached a new three-year agreement on drug prices, which is expected to yield savings of over €400m.
The deal between the Irish Pharmaceutical Healthcare Association, the Department of Health and HSE will reduce State spending on medicines in various schemes.
It also provides for cuts in prices for patients who pay for drugs.
The IPHA represents the research-based pharmaceutical industry and today it said the deal would also ensure new medicines are made available to patients.
Under the agreement, when a patent expires on a medicine, the price to the wholesaler will be reduced to 70% of the original price and a year later, it will be cut to 50% of the original price.
For existing expired medicines, the price to the wholesaler will be cut to 60% of the original price from 1 November and a year later it will be cut to 50% of the original price.
A once-off price reduction will also apply to patent and off-patent medicines.
Proposed legislation is currently before the Oireachtas, which will see a system of generic substitution, reference pricing and a HSE list of reimbursable medicines and other items.
Under the Health Pricing and Supply of Medical Goods Bill 2012, a pharmacist will be able to dispense a generic version of a medicine when a specific brand has been prescribed.
If the patient wants a more expensive branded version, they will pay the difference.
(H)
The deal between the Irish Pharmaceutical Healthcare Association, the Department of Health and HSE will reduce State spending on medicines in various schemes.
It also provides for cuts in prices for patients who pay for drugs.
The IPHA represents the research-based pharmaceutical industry and today it said the deal would also ensure new medicines are made available to patients.
Under the agreement, when a patent expires on a medicine, the price to the wholesaler will be reduced to 70% of the original price and a year later, it will be cut to 50% of the original price.
For existing expired medicines, the price to the wholesaler will be cut to 60% of the original price from 1 November and a year later it will be cut to 50% of the original price.
A once-off price reduction will also apply to patent and off-patent medicines.
Proposed legislation is currently before the Oireachtas, which will see a system of generic substitution, reference pricing and a HSE list of reimbursable medicines and other items.
Under the Health Pricing and Supply of Medical Goods Bill 2012, a pharmacist will be able to dispense a generic version of a medicine when a specific brand has been prescribed.
If the patient wants a more expensive branded version, they will pay the difference.
(H)
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Ireland WeatherToday:Showers today, occasional north and west of Lough Neagh, but only a few isolated light outbreaks expected for Belfast and county Down where the best of the winter sunshine is expected. West to northwest winds brisk around the coasts. Maximum temperature 10 °C.Tonight:Showers focused across northern areas of the Province, with most in the south staying dry, with a frost developing for many here. Northwest winds fresh around the coasts. Minimum temperature 0 °C.
