EPFIA in deal to cap drug costs for Greek government

Research-based trade group The European Federation of Pharmaceutical Industries and Associations (EFPIA) has agreed to finalize a “clawback” under which its members would absorb any excess beyond a 2012 spending target on drugs, in exchange for repayment of outstanding debts to the industry, according to EFPIA director general Richard Bergstrom.

The outstanding debts of public hospitals in Greece and the Organization for the Provision of Health Services (EOPYY) to pharmaceutical companies have reached the 1.8 billion euros ($2.31 billion), Konstantinos Frouzis, president of the Greek pharmaceutical industry body SFEE told the recent  Healthworld 2012 Cοnference, held in Athens (The Pharma Letter September 18).

In an annexe to a letter to the Greek Finance Minister (released to The Pharma Letter this morning), the EFPIA says that the pharmaceutical industry represented by EFPIA and the Greek trade group SfEE and the Government of Greece (GoG) intend to enter into a Framework Agreement re the 2012 issues based on shared objectives of: