New pricing structure for medication

The health service is to cut the cost of some drugs by as much as 70% as part of a radical plan being imposed on the pharmaceutical industry.

The move, which begins this weekend and which has been long called for by Health Minister James Reilly and his predecessor Mary Harney, as well as patient groups, has been implemented after pressure from the troika.

Under the initiative, the HSE will reimburse drug companies the same amount for branded medications as they do for their generic equivalents.