Dáil Éireann Debate, Wednesday - 18 July 2012
354 Deputy Caoimhghín Ó Caoláin asked the Minister for Health the estimated savings which would be made by implementing a full programme of generic substitution and reference pricing of medicines. [35748/12]
View answerThe Health (Pricing and Supply of Medical Goods) Bill 2012 which was published on Friday, the 13th of July, will introduce a system of reference pricing and generic substitution for prescribed drugs and medicines. These reforms will promote price competition among suppliers and ensure that lower prices are paid for these medicines resulting in savings for taxpayers and patients.
It is not possible, at this juncture, to provide accurate figures regarding potential savings resulting from reference pricing, as these depend on various factors including prevailing prices, number of competitors, availability of substitute products, and market dynamics.
