Proposals to reduce price of medicines to be examined today

Proposals to reduce the price of cost of prescription medicines will come under the spotlight later.

Representatives from the Department of Health, the Association of Pharmaceutical manufacturers and the Irish Medicines Board are due before an Oireachtas Health Committee on the matter this afternoon.

Irish consumers spend more than €1.6bn on prescription medicines every year.

Often identical products can be purchased cheaper in other European countries.

At present, pharmacists are only allowed to supply the brand specified by a doctor. These proposals being discussed at today's Oireachtas Health Committee would allow pharmacists to sell patients cheaper, generic equivalents.

It is also believed that the plan, if given the green light, would promote greater competition between suppliers.