Irish drugmakers slash prices of older Rx medicines by 40%, which could mean saving Irish patients up to 500 euros a year

With effect from February 1, the cost of long-established prescription medicines in Ireland has been reduced by 40%, the Irish Pharmaceutical Healthcare Association (IPHA) announced, which could save the nation's patients as much as 500 euros ($695) a year.

The IPHA, which represents the international research-based pharmaceutical industry, has set up a special web site on which patients can check to see if their medicines are listed, and the price reduction. This carries a detailed list of all the medicines and their new, lower prices and includes some of the most commonly prescribed medicines in the country.

Commenting on the initiative, Brian Murphy, IPHA's director of commercial affairs, said: 'We would urge patients to check the web site as those who have to pay for their medicines could save 3 euros-4 euros on every 10 euros they spend. That's a potential saving of up to 500 euros per year.'