Drugmakers offer to cap Greece's medicines bill

[dipsydoodle]

Source: Reuters

(Reuters) - International drug companies have offered to cap the total amount the Greek government has to pay for its medicines in a bid to resolve a crisis that is jeopardizing both the supply of drugs to patients and drugmakers' profits.

The proposal was set out by the trade group the European Federation of Pharmaceutical Industries and Associations (Efpia) in a letter to the Greek ministers of health and finance, a copy of which was seen by Reuters.

In exchange for a ceiling on outpatient pharmaceutical expenditure of 2.88 billion euros ($3.70 billion) in 2012, Efpia wants the government to commit to pay off all outstanding debts and promise not to allow further arrears to build up.

Under the plan, individual drug companies would be subject to a "clawback" if the cost ceiling is breached, based on their share of the Greek market.

http://uk.reuters.com/article/2012/11/05/us-greece-pharmaceuticals-idUKBRE8A40AL20121105

Read more: http://uk.reuters.com/article/2012/11/05/us-greece-pharmaceuticals-idUKBRE8A40AL20121105

[SoapBox]

1. They'll just raise prices here.

Pharma gives me a headache.