Espicom’s in-depth pharmaceutical market reports are ideal for executives wanting to understand the key drivers in pharmaceutical markets and have access to a wealth of statistical data. Each report opens with an outlook section that provides analysis of the market, 5-year market forecasts, national data projections, market outlook and key developments such as regulation, pricing/reimbursement, intellectual property, health facilities and government policy. The report also provides extensive background information, population trends, health status, health expenditure, organisation & administration, hospital services, medical personnel, healthcare development, market access information, trade data for raw materials and finished products and essential industry contacts.
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Greece is one of the less well-developed members of the European Union. Pharmaceutical consumption has, however, risen extremely fast in recent years. The country has a national health service which reimburses all approved drugs, usually subject to a 25% co-payment. Around one-third of the market is located in and around Athens, the capital. Very little is manufactured locally. There has been virtually no multinational presence for many years, and only a handful of locally-owned companies. Almost all the market’s requirements are met through imports, usually shipped from elsewhere in the EU.
Greece is one of the lowest-priced markets in Europe. Since 2006, prices have been set at the average of the lowest three prices in the EU, and are also subject to periodic freeze agreements between the government and the industry. These pricing rules apply to both prescription and OTC products. These low prices have made Greece one of the leading sources for parallel trade drugs in the EU, for export principally to Germany and the UK.
Attempts made by GSK to restrict supply of drugs intended for export in this manner have been the the subject of a lengthy and inconclusive legal debate at national and European level. Generics are neither popular nor widely-used in Greece. The pricing system gives no incentive for their use, and they are often seen as low quality substitutes for the branded product.
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