State will save as drugs firm slashes prices
THE battle for the prescription drugs market has heated up as the country's largest supplier of generics -- unbranded medicines -- is set to cut prices by more than a fifth.
Multi-national Teva Pharmaceuticals has announced that it will introduce a 23pc price cut across its range, taking effect from Thursday. The move is set to make significant savings for the State.
Brand name drugs currently take the lion's share of Ireland's total spend on medicines, accounting for 90pc of the €1.9bn outlay.
Currently, pharmacists are unable to suggest a generic alternative to a brand-name drug prescribed by GPs, as happens in other countries.