Monday Jan 26, 2015 Search
Weather | Athens
15o C
9o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece to boost share of generics in drugs market, minister Says

Greece wants to triple the share of generic drugs prescribed by the end of next year, closing the gap to targets set by international creditors under the terms of the country’s bailout, Health Minister Adonis Georgiades said.

The share of generics in the total volume of prescription drugs sold in Greece will rise to “at least” 30 percent by the end of 2014, compared with 19.8 percent at the end of last year, closer to a national target for a 60 percent share, Georgiades said in an interview in Athens on Thursday. The minister said he would consider less than 30 percent at the end of 2014 a “failure” and that 60 percent goal will probably be reached by the end of 2015.

The share of copycat drugs sold in Greece is still very low compared to the European average of more than 70 percent, Georgiades said, adding that the government will cut the average treatment price gradually every six months, to allow local manufacturers to adapt to international competition.

Cuts in public spending on drugs is one of the conditions attached to Greece’s bailout, supported by 240 billion euros ($331 billion) in loans from the euro-area member states and the International Monetary Fund. The market for generic medicine in the country is about 500 million euros a year a number that will increase to about 750 million euros when Greece reaches the 60 percent mark, the minister said.

Georgiades said Greece has copycat drugs of “high quality,” dismissing concerns about drugs imported from developing countries and adding that targeted reductions to regulated prices won’t affect quality.

“We are talking about the same drugs used everywhere in Europe,” he said. “I haven’t heard of European patients suffering en masse from low-quality medication.”

Georgiades said he strongly opposes demands from international creditors to allow the sale of non-prescription drugs in supermarkets and the deregulation of pharmacies.

“The point is to land the plane, not crash it,” he said. Greece has about 11,500 pharmacies, when 6,000 would be sufficient for its needs, he said. At the same time, it has more specialized doctors and fewer general practitioners and nurses compared with other European Union member-states.

“An army full of generals, and few soldiers,” the minister said. “We know that this is not sustainable, but we don’t want to take measures that will lead half of the country’s pharmacies into bankruptcy. We should remember that unemployment in Greece is 28 percent.”

Georgiades said there aren’t vested interests in the health-care sector that enjoy government protection.

“In 2009, the size of the drugs market in Greece was 5.6 billion euros, and pharmacies were operating with a 30 percent profit margin,” he said. “Now, the market has shrunk to 2 billion euros with a 20 percent profit margin. We don’t offer special protection, we’re just giving the industry sufficient time to adapt in the new reality.”

[Bloomberg]

ekathimerini.com , Friday March 7, 2014 (10:09)  
Greek bond yields soar on SYRIZA’s choice of gov’t partner
Nordbank eyes bad shipping debt deals
European markets shake off SYRIZA win in Greece
IMF´s Lagarde rules out special treatment for Greece
Greek F-16 crash in southeastern Spain kills 10
A Greek fighter jet crashed into parked aircraft during a NATO training exercise on Monday in southeastern Spain, killing at least 10 people and injuring another 13, Spanish defense authorit...
PASOK heading for party congress, leadership contest
PASOK is due to hold a party congress in March, when the leadership of the party will also be at stake, after a poor showing in the elections. Sources said that PASOK leader and outgoing Dep...
Inside News
SOCCER
Olympiakos overcomes depleted OFI at Iraklio
Easy though it may seem, Olympiakos’s 3-0 win at depleted OFI Crete was rather difficult on Saturday, but was enough to keep the Reds on top on Saturday, as they have maintained their two-po...
BASKETBALL
Tremendous Spanoulis sweeps Laboral Kutxa
A hot second half was enough for Olympiakos to undo visiting Laboral Kutxa and score its fourth win in as many games at the second round of the Euroleague on Friday. The 76-64 final score wa...
Inside Sports
COMMENTARY
SYRIZA´s win will test institutions
Greece was at an impasse, with a government that did not believe in what it was doing and an opposition that declared with passionate intensity that whatever the government did was wrong and...
COMMENTARY
The challenge for Tsipras and others
A few years ago, an associate of mine who had met with Alexis Tsipras when the young politician was running for Athens mayor told me how impressed he had been by his confidence. Tsipras was ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Greek bond yields soar on SYRIZA’s choice of gov’t partner
2. Nordbank eyes bad shipping debt deals
3. Greek F-16 crash in southeastern Spain kills 10
4. PASOK heading for party congress, leadership contest
5. Former PM Constantinos Mitsotakis recovering after heart surgery
6. Police publish name, photograph of suspected child molester
more news
Today
This Week
1. SYRIZA heads for historic victory but without majority
2. Greek Elections 2015: The day after | LIVE
3. SYRIZA's win will test institutions
4. Tsipras forges anti-austerity coalition in challenge to EU
5. Finnish PM says ready to discuss bailout extension for Greece
6. Tsipras moves to form anti-austerity government after crushing victory
Today
This Week
1. Greek Elections 2015 | LIVE
2. Grexit the only way out of ‘valley of tears,’ says Hans-Werner Sinn
3. Greek Elections 2015 | LIVE
4. SYRIZA heads for historic victory but without majority
5. No debt writedown or rolling back of reforms for Greece, says Finland's Stubb
6. Greeks fork out nearly 5 pct of their incomes on telecom services
Advertiser Link
SMART WATER Project: Outputs and conclusions of the final conference
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.