Wednesday, June 20, 2012

Drug price cuts good news for patients

Agreement allows for release of new disease-fighting drugs
Fine Gael Meath East TD, Regina Doherty, has today (Tuesday) said that an agreement that will see the price of generic medications fall is good news for patients. She added that it’s expected the agreement, reached between the Minister for Health, James Reilly TD, and the Irish Pharmaceutical Healthcare Association (IPHA) will allow for the release of cutting edge drugs to fight a range of diseases.

“Minister Reilly has reached an updated agreement with the IPHA that will not only deliver savings to the State of more than €20 million a year, crucially it will allow for the HSE to make a range of new, expensive drugs available to treat a range of conditions including multiple sclerosis, bipolar disorder and hepatitis.

“Under the new agreement, which replaces the previous deal which expired in March, the cost of medications will be slashed by 30% once a generic version becomes available. This is an increase from the 20% under the previous agreement. 

“It’s estimated this will save the HSE up to €20 million per year. These savings will make it possible to provide expensive, cutting edge medicines for a range of serious conditions. So it means it is not only good news for taxpayers, it will also deliver a boost to patients in need of the most up to date treatments. 

“Our health system is undoubtedly under serious pressure, and we need to make savings and efficiencies where possible. But that doesn’t just mean cutting costs, it means spending our money wisely. By getting a better deal on generic, everyday medications, we will be able to provide the best care for those who need it most.”

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