Spain announces big drug-price cuts, aiming for $1.6 billion savings
In a move that has been described as a 'mortal blow' to Spain's pharmaceutical in some Spanish press reports, the nation's government has announced that it is cutting the prices of patented prescription drugs by as much as 23% in the hope of reducing what the public health system spends on medicines. The savings should amount to roughly 1.3 billion euros ($1.6 billion).
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