Health Minister gives price ultimatum to pharmaceutical companies

The Health Minister Leo Varadkar has given a deadline to pharmaceutical companies to lower the prices they charge the state.

In an interview with the Sunday Business Post, the Minister said drug manufactuers will have to agree to cut their prices by June – or else he'll use existing legislation to force a reduction.

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The state spends near 2 billion euro annually on medicines.

But the government's been criticised for not driving a harder bargain with pharma multi-nationals – many of whom have manufacturing bases here.