Cheaper medicines are set to become available under a new four-year agreement reached between the State and pharmaceutical companies.
The deal will also accelerate access to new drugs for public patients and increase the use of generic medicines, reports RTE.
The agreement between the State and the Irish Pharmaceutical Healthcare Association (IPHA) was approved by the Government today after several months of negotiations.
The IPHA represents research-led companies that manufacture branded medicines, reports RTE.
As part of the agreement, the State will secure savings on the cost of some existing medicines and expand the use of generics through a separate deal with manufacturers of generic drugs.
The IPHA said the pricing and supply agreement reflected a shared commitment to investing in treatments that improve patient outcomes, reports RTE.
The association has previously said it expects its member companies to apply to the HSE to make about 32 new medicines available this year.
It has said that approximately 6,000 patients could benefit from these developments, reports RTE.
The new medicines include treatments for breast, lung and gynaecological cancers, leukaemia, type 2 diabetes, weight management and heart disease.
Budget 2026 allocated €30 million for new life-enhancing medicines, reports RTE.
The State’s medicines bill this year is expected to be around €4 billion.
Many new medicines can cost more than €100,000 per patient, per treatment, reports RTE.
The State has been pushing for cost-effective therapies that demonstrate value for money, given the limited health budget and competing pressures across the system.
Under Budget 2026, the pharmaceutical sector also received an increased research and development tax credit, rising from 30% to 35%, reports RTE.
Minister for Health Jennifer Carroll MacNeill said the framework agreement in principle would support greater predictability and stability in Ireland’s pharmaceutical and medicines supply.
Medicines for Ireland has also welcomed the agreement, reports RTE.
In a statement, it said that it “represents a significant step forward in strengthening Ireland’s medicines supply system, ensuring continuity of access for patients, and supporting the long-term sustainability of the health service”, reports RTE.
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