Prescription Drug Expenditure Declines
BMI View : Despite calls made by companies for the implementation of a system that adequately rewards innovation and supports investment in future medicines, Mariano Rajoy's centre-right administration is likely to remain committed to fiscal consolidation and will continue to target the healthcare sector and prescription drug expenditure in particular - a large recipient of government funds.
Between June 2010 and March 2014, prescription drug expenditure by Spain's National Health Service (Servicio Nacional de Salud, SNS) fell by 17%, with expenditure on patented medicines falling by 27%. During the same period, generic drug expenditure increased by a staggering 101%. The sharp decline in the value of the prescription drug sector, and in particular patented medicines, started in mid-2010 and can be attributed to the numerous cost containment measures implemented by the government in 2010, 2011 and 2012.
BMI's data for per capita prescription drug sales aligns with the data provided by Farmaindustria. Between 2010 and 2014, we calculate a 14.72% decline in prescription drug expenditure in Spain, with expenditure in the patented medicines segment experiencing a 20.19% decline during the same period.
|Generic Medicines: A Jump In Spending|
|Sales Growth Compared With June 2010 Values. Reimbursed Prescription Drug Market|