Monday, November 05, 2012

Drug makers offer to cap Greece's medicines bill | Reuters


(Reuters) - International drug companies have offered to cap the total amount the Greek government has to pay for its medicines in a bid to resolve a crisis that is jeopardising both the supply of drugs to patients and Drug makers' profits.

In exchange for a ceiling on outpatient pharmaceutical expenditure of 2.88 billion euros (2.3 billion pounds) in 2012, Efpia wants the government to commit to pay off all outstanding debts and promise not to allow further arrears to build up.

Under the plan, individual drug companies would be subject to a "clawback" if the cost ceiling is breached, based on their share of the Greek market.

The move follows growing concerns about the situation in Greece, where the government last month took the highly unusual step of suspending all drug exports from the country in an attempt to prevent shortages.

Posted via email from Jack's posterous

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