Generic drug law could see prices fall by up to 20%

A generic drug law now in force could radically change the way pharmaceutical prices are set in Ireland, a report from the Economic and Social Research Institute (ESRI) states.

The Health (Pricing and Supply of Medical Goods) Act 2013 means pharmacists will be able to select a lower priced medicine than that prescribed by a medical practitioner.

According to the ESRI report on pharmaceutical prices, prescribing practices, and generics, the increased availability of generic drugs has not led to substantial savings for cash paying patients — up to now.