Generics game changer for Ireland

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Generics game changer for Ireland

Generics/General | Posted 31/01/2014 0 Post your comment

A new pharmacy in Dublin, Ireland, is offering customers savings of up to 80% on the price of drugs by focussing on generics. The news comes in light of legislation passed by both houses of Ireland’s parliament in May 2013, which encourages wider use of generics and generics substitution [1].

Prior to the passing of Ireland’s pro-generics law, pharmacists were not permitted to supply cheaper generic versions of a medicine if a specific brand-name drug was prescribed.

Generic drug prices in Ireland are currently about three times those in the UK. The new pharmacy, Healthwave, will bring prices in line with the UK and says it will offer customers an annual saving of up to Euros 500 if they pay a Euros 25 annual fee to join its ‘HealthPass’ service.

The pharmacy is reported to be receiving more than 400 calls and 250 emails a day since the scheme was launched. Over 300 people signed up for the HealthPass service in just one day and the company’s Chief Executive, Mr Shane O’Sullivan, now plans to open Healthwave pharmacies at other sites around Ireland.

The announcement from Healthwave was hailed as a ‘game changer’ by Mr Dermott Jewell, Chief Executive of the Consumers’ Association of Ireland. ‘This is the first move of a very serious competitive nature within the pharmaceutical sector for many years,’ he told Irish newspaper The Sunday Independent. ‘The reality behind the pricing structure and the transparency of it is very impressive.’

Increased consumer pressure for similar rates in local pharmacies is anticipated. Already, people are travelling to Dublin for cheaper medicines.

The European Commission’s troika mission to Ireland in 2013 advised the country’s politicians that the cost of pharmaceutical drugs in the country could not be justified [2]. Currently, only 18% of medication dispensed in Ireland is generic, compared with 80% in the UK. An estimated 30% of Ireland’s medical cardholders, representing more than half the population, do not use generics.

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References

1. GaBI Online - Generics and Biosimilars Initiative. Ireland passes bill to encourage generics use [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Jan 31]. Available from: www.gabionline.net/Policies-Legislation/Ireland-passes-bill-to-encourage-generics-use

2. GaBI Online - Generics and Biosimilars Initiative. Ireland high drug prices cannot be justified [www.gabionline.net]. Mol, Belgium: Pro Pharma Communications International; [cited 2014 Jan 31]. Available from: www.gabionline.net/Pharma-News/Ireland-high-drug-prices-cannot-be-justified

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Source: Healthwave, Independent.ie, Irish Health