Greek Govt Succumbs To Pressure And Allows Drug Price Hikes

The Greek government has approved large price increases in a range of medicines, which took effect end-July. In announcing the rises, Deputy Development Minister Michalis Chryssochoides (responsible for trade) and Deputy Health Minister Fraglinos Papadellis implied that pharmaceutical companies had obliged the government to take action by creating shortages of essential products. "We were facing shortages because their prices were low....these products were absolutely necessary," said Mr Chryssochoides.

The increases will affect 736 medicines, ranging from aspirin to products for the treatment of heart conditions. The most dramatic increase is for packs of 20 500mg aspirin, currently sold at 169 drachmas ($0.72), which will now be priced at 459 drachmas ($1.94). However, the ministers said that the "cheaper aspirin" would still be available, without explaining how people could be persuaded to buy the "new" more expensive product. 100mg tablets of aspirin sold in packs of 20 for 120 drachmas will now be sold in packs of 90 for 919 drachmas, up 70%.

Other examples of price hikes are: Tenormin (atenolol), up 67%: Voltaren (diclofenac), 23% higher; and Panadol (paracetamol), increasing 12%. In addition, the price of antitetanus boosters goes up 13%, that of blood plasma 27%, and anti-influenza vaccines by 54%.