DUBLIN In the smoke-and-mirrors world of drug pricing in Europe, Ireland is claiming a little victory on foot of a new drug pricing agreement with the pharmaceutical industry which will help to keep a lid on rising drug prices between now and 2020.
Officials did not make any claims that Ireland's drugs bill is going to get any lower, given the pipeline of expensive new treatments in the offing and the country's expanding and aging population. But it might get a little more bang for the bucks that it will spend drug expenditure currently runs to about €1.7 billion annually.
The agreement with the Irish Pharmaceutical Healthcare Association (IPHA) runs from Aug. 1, 2016, through July 31, 2020, and is slated to deliver annual savings of about €150 million (US$165 million) of savings over its four-year lifetime. Including the products of non-IPHA members could add another €46 million annually, although the