Italy's pharmaceutical manufacturers were last week preparing to implement the further 2.5% drug price reduction imposed by the government, following the failure of an attempt by a group of companies to prevent the measure from being introduced.
This latest price cut affects only companies reporting an increase in turnover of 10% or more in the first half of 1994. Around 62 companies are involved, and the prices of about 1,400 products overall are to be cut, according to the pharmacists' association, Federfarma.
The provision, which was contained in a decision announced in early January by the interministry policy-making committee, Cipe (Marketletter January 16), had been challenged by a group of pharmaceutical manufacturers, which launched an appeal in the regional administrative court in Latium. Last week however, the court dismissed the appeal brought by the group, which included multinationals such as Glaxo, Schering-Plough, Parke-Davis and Bristol-Myers Squibb.
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