Reference Pricing System To Drive Down Generic Medicine Prices

In a bid to contain public healthcare spending, the Irish government has revealed that it will implement a reference pricing system in 2011 aimed largely at reducing the cost of generic medicines. The scheme is expected to lead to savings of EUR78mn a year, according to a study based on the top 100 medicines by expenditure for which a generic version was available. The new system will therefore encourage generic medicines consumption, increasing the volume and value of the domestic market. In a further bid to increase spending on off-patent medicines, pharmacists will be legally obliged to substitute branded medicines

To read the full article, please choose one of the following options: