Greek drugmakers welcome government move on drug re-pricing

The Greek pharmaceutical trade group the SFEE says it welcomes the government's decision to finally proceed with the re-pricing of all medicinal products by implementing article 14 of Law 3840/March 2010.

The Pricing Committee will validate the new prices in a meeting scheduled for August 19. The SFEE highlights once again, its willingness to provide additional data or any kind of support, should the Committee require it, in order to issue the new Price Bulletin.

Earlier this year, the Greek government introduced draconian measures to curb budget deficits including vicious price cuts for pharmaceutical products (The Pharma Letter May 6). Under this, the weighted average of the price reductions introduced was 21.5%, aimed at yielding annual savings of an estimated 1.9 billion euros ($2.46 billion).