Greece and Drug prices

[DavidS]

Followers of the news will have noticed that Greece has unilaterally reduced its drug prices by 25%.
BBC News - Second firm withdraws drugs from Greece over cuts
This has resulted in a couple of companies, Leo and Novo, pulling out of the Greek market altogether.

Can't say I blame them, really. The parallel importers must be rubbing their hands together.

Of course it could be illegal for UK pharmacists or wholesalers to indulge in imports which deprive another EU countries' citizens of their drugs - or does that just apply to exporting cheap UK ones?
(source PSNC news)

[johnep]

'Stefanos Combinos, the director general of the economy ministry, told the BBC that Greece was one of the three most expensive countries in Europe for medicines.'
Well, most of our PIs came from Greece.
johnep

[arnoldblack]

great news for those buying their prescription drugs online from greece

[Nik]

Of the 4000 drugs included to be cut, about 1350 are generics, which will be priced at a max of 72% of the price of the branded equivalent. On top of that any increase to the wholesale price can't exceed 10% and any reductions can't exceed 40%
One interesting thing the Greek govt will do is to introduce an electronic prescribing system to allow the relevant authorities to check on doctors prescribing and encourage (or more likely enforce) generic prescribing.

[johnep]

Generic companies also exist to make a profit, if they cannot do so in a country, then they will withdraw from that market.
Never fear, if a politician requires a med for his/her family, it will be obtained.
johnep

[hibernia]

One interesting thing the Greek govt will do is to introduce an electronic prescribing system to allow the relevant authorities to check on doctors prescribing and encourage (or more likely enforce) generic prescribing.

Where is a country that is broke going to find the money to introduce an expensive electronic prescribing system?

[johnep]

If they have any sense will look for a ready made solution eg Australia. If the have no sense, then do what our government did and throw billions at consultants.
johnep

[Nik]

Where is a country that is broke going to find the money to introduce an expensive electronic prescribing system?

That...is a very good point ! - however it is already apparently under way and the Greek govt are depending on its success to generate savings.

[scott56]

why with the sudden decrease in price?