Greek Drug Pricing Proposal Slammed

In Greece, a proposal that wholesale prices of pharmaceuticals be fixedat 63% of the average level in all other European Union countries has been attacked by local producers and importers.

The proposal, submitted to the Ministry of Commerce by the Committee for Price Readjustment, goes on to say that with a single invoicing system in operation, prices of locally-made drugs should also be set at this level.

Industry representatives say that adoption of this plan would not only inflict grave damage on the domestic industry but also seriously harm the national drug supply, as overseas manufacturers would hardly be keen to sell their products in Greece at prices so much lower than elsewhere in the EU. One industry spokesman asked, not entirely seriously, if the plan were to be extended to all other imports, so that foreign producers of cars, stereos, fuels, etc would also be asked to supply their products to Greek buyers at prices 37% lower than in the rest of Europe.