Pharmaceutical spending reached 8.5 billion euros in 2024

Slow integration of caller drugs, simplification successful nationalist pharmaceutical spending, expanding trend of mandatory refunds contempt its strong export footprint and R&D is recorded by the pharmaceutical marketplace according to a caller study by IOBE.

The pharmaceutical manufacture is 1 of the astir dynamic sectors of the Greek economy, however, the spread successful financing nationalist pharmaceutical spending is still large, while mandatory refunds (clawback & rebate) marque it hard for imaginable investments arsenic well arsenic the instauration of caller innovative formulations.

As recorded successful the IOBE study “The Pharmaceutical Market successful Greece: Facts and Figures 2024”, total pharmaceutical expenditure (outpatient and inpatient) stood astatine 7.5 cardinal euros successful 2023, while it is estimated to emergence to 8.5 cardinal euros successful 2024. Public expenditure stood astatine 2.8 cardinal euros, with an estimation of 3.0 cardinal successful 2024, while the information of the pharmaceutical manufacture accrued to 3.9 cardinal euros successful 2023 and it is estimated to emergence to 4.6 cardinal successful 2024.

From '22 onwards, the state redistributed spending crossed the three organisation channels (retail, PHI and hospitals), resulting successful an unequal redistribution of mandatory reimbursements, particularly for infirmary medicines and high-cost medicines, creating suffocation for pharmaceutical companies that are required to wage astir 80% clawback. At the aforesaid time, diligent information accrued to 740 cardinal euros successful 2023 and 810 cardinal euros successful 2024.

However, we besides person delays successful the instauration of caller treatments successful our state compared to different European countries, arsenic of the 173 caller drugs approved successful the play 2020–2023, lone 75 were imported into Greece, while lone 1 successful 5 innovative drugs of the past 4 years are available successful Greece.

However, the pharmaceutical manufacture has a strong export footprint and R&D. Research and Development (R&D) expenditure successful '22 amounted to 161 cardinal euros. Also, successful the play 1995-2024, 2,034 objective studies were conducted (1,715 completed) careless of signifier oregon stage. Exports amounted to 2.8 cardinal euros successful 2024 (5.7% of total exports) with imports constituting 5.1% of total imports successful 2024. Finally, the total publication of the assemblage successful terms of GDP is estimated astatine 6.9 cardinal euros (3.1% of GDP) successful 2023.