Spanish government should consider linking pharmaceutical spending to GDP growth

Pharmaceutical spending has fallen nearly 30% in Spain in last four years. According to IMS Health data, it will continue falling in 2014 (-2%) and 2015 (-3.5%) if structural measures are not taken to correct it.

Instead of that, some regions proposed additional adjustments before the summer, arguing that they cannot cope with deficit and debt demanding goals, reports The Pharma Letter’s local correspondent. Pharmaceutical companies became worried after learning of those plans, recalling that 6,000 jobs were lost in Spain from 2012, and predicting new cutting of jobs in the event that additional saving measures are implemented.

Taking into account this situation, the board of trade group Farmaindustria has proposed a new idea to the government: now that the Spanish Gross Domestic Product (GDP) is recovering, pharmaceutical spending should not continue falling, but should be linked to the growth of the economy, expressed in GDP.