Cyprus: Price reductions on drugs will create a shortage in the market

Cyprus: Price reductions on drugs will create a shortage in the market

Medicine importers warn that manufacturers may soon stop supplying the Cyprus market with a number of products due to successive price reductions imposed by the government.
The Cyprus Pharmaceutical Association (CPA) says manufacturers abroad are already mulling pulling out because an anticipated further fall in meds prices will make them unprofitable.
“This is not an idle threat or a bluff on our part,” CPA head Avgoustinos Potamitis told the Cyprus Mail.

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So far, he said, stocks have run out on about only three to four brand products, but the situation could fast worsen should the government press ahead with a second price cut.
Back in January, the health ministry slashed the price of almost 2,000 medicines by around 15.5 per cent on average, but in some cases the reductions were as high as 80 per cent.

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