French Senate OKs generic drug deal

France's Senate has approved an amendment to legislation on health care spending to incorporate a recent accord over the sale of generic medicines in pharmacies. A targeted lowering of generic prices where these are higher than the average for the European market is expected to save the health insurers an estimated 100.0 million euros ($147.2 million) per year and an additional 30.0 million euros in supplementary reimbursement costs. Supporters of the reform argue that drugmakers will not suffer from the price reductions as the new rule coincides with an equivalent cut in pharmacy margins.