Industry & Business

Government Negotiates for Lower Drug Prices

Government Negotiates for Lower Drug Prices

June 28
10:00 2016

Pharmaceutical_680x300_EMEA Over the next four years, the State plans to cut the amount it pays for medication by €775 million. This will be part of a deal that the Government will make with pharmaceutical manufacturers and the Irish Pharmaceutical Healthcare Association after revising the rules to approve costly new drugs.

The official agreement results will be announced in a few weeks once everything has been finalised.

According to the Department of Health, those involved in the negotiation have come to a decision on the terms of supply and pricing, and are continuing to work out the specifics.

This will guarantee that the State’s yearly budget for medication will not exceed €1.2 billion and leave room for them to buy  new drugs that tend to be more expensive.

Over all, the cost of medication in Ireland will be lower than in other countries.

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