Ireland Implements Reference Pricing to Boost Use of Generics
Posted 10 June 2013 | By
The Health (Pricing and Supply of Medical Goods) Act of 2013, enacted in Ireland on 28 May 2013, introduces a system of generic substitution and reference pricing for medicinal products in Ireland.
The Irish Medicines Board (IMB) has published guidance detailing its responsibilities under the Act and the process for creating the mandated List of Interchangeable Medicines. Reference pricing involves the setting of a common reimbursement price, or reference price, for a group of interchangeable medicines.
Patients will not face any additional costs for products priced at or below the reference price. If patients would like to receive a particular brand of medicine that costs more than the reference price, they will have to pay the difference between the reference price and the cost of the brand-named medicine.
Read all Breaking News from RegLink