Farmaindustria To Support Cuts But Wants Concessions

Spanish pharmaceutical industry association Farmaindustria has indicated that it will keep the growth in drug spending at between 6% and 6.5% for 18-20 months compared with the current level of 7%, in return for concessions to the industry, reports the financial daily Cinco Dias.

"We understand the policy of the government is to meet the criteria to bring Spain into the European Union's Maastricht Treaty, and I think that Spain should be among those countries that sign the agreement," said Rafael Juste, president of Farmaindustria. "It is for this reason that Farmaindustria is prepared to make an effort and support the government," he added, but warned that "the government must pay serious attention to the matter, because we cannot make this cut without concessions."

Mr Juste said that the commitment could not be for more than 18-20 months as any longer would be a risk to the industry. This time frame fits that of the European Council, which will decide in the spring of 1998 which countries have met the Maastricht criteria.