Portugal to increase cheap medicine prices by 5%

Portugal to increase cheap medicine prices by 5% | INFBusiness.com

The prices of cheap medicines will be increased to facilitate access to them and avoid situations in which stocks run out, according to the Health Ministry.

The Health Ministry will bring forward a set of measures in this area between now and June.

“Medicines with a retail price of up to €10 will have their price updated by 5% and those priced between €10 and €15 will be updated by 2%,” the Health Ministry said in a statement on Wednesday, explaining that this increase is taking place outside the usual annual price review process.

As for drugs priced above €15 per pack, prices are to be revised by comparison with the average of the four reference countries (Spain, France, Italy and Slovenia), the statement explains; whenever the price is above average, it will be reduced by up to 5%.

“This administrative price increase aims to promote access to medication in Portugal, contributing in the medium term to lower costs to the SNS [National Health Service] and the Portuguese, by preserving the sustainability of cheaper products on the market, particularly generics,” notes the Ministry.

The price revision, which in addition to aiming to facilitate access to cheaper drugs, “protects people from the effect of inflation,” is part of a set of measures that the Ministry of Health says it will bring in in the first half of this year.

The goal, it stresses, is to “facilitate access to medicines and avoid situations of stocks running out, responding to the concerns expressed by users, health professionals and the sector, and seeking to ensure the best conditions of access, as well as citizens’ confidence in the medicines circuit.

“Considering the volume of medicines sold in Portugal in 2022, these measures, to be applied during the 10 months between now and the end of the year, may generate an increase in spending by the State of about 0.4% and by citizens, in overall terms, of about 0.5%, well below inflation figures,” it states.

Additionally, two new mechanisms to protect patients are to be developed immediately, namely the creation of a list of essential, critical drugs, whose availability will be particularly monitored and for which specific measures will be taken that may include exceptional price revisions.

“The definition of the concept of an overpriced drug, by reference to the increase in sales volume and market share, which will lead to a reduction in its price during the year 2023” is another mechanism developed by the government, the ministry explains.

(Helena Neves/Lusa.pt)

Source: euractiv.com

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