News Local Cyprus to save €30-40 million by importing cheaper medicine via Greece

Cyprus to save €30-40 million by importing cheaper medicine via Greece

Cyprus will save around €30-40 million per year if a deal with Greece goes through, according to Phileleftheros.

The governments of the two countries are discussing ways to integrate the small and unprofitable – for international pharmaceutical companies – Cypriot medicine market with that of Greece.

This will reduce the cost of medicine in Cyprus, as the government will be able to negotiate medicine costs at the prices that Greece buys them.

For example, if Greece needs 5,000 medicines and Cyprus 1,000 medicines, the negotiation – which will be conducted by Greece – will refer to 6,000 medicines, thus lowering the cost.

The deal will mainly include expensive medicine for cancer, rheumatism, multiple sclerosis and various rare diseases, for which, the Cypriot Ministry of Health pays a large amount of money, such as the drug against hepatitis C which Cyprus buys for €40,000 per patient, while Greece gets it for €10,000.

It has to be noted that if the deal is finalised, Cypriots will be only able to buy the cheaper drugs through the public health system and not private pharmacies.

The Minister of Health, Constantinous Ioannou, commented on the deal, while speaking to the Cyprus Alliance of Rare Disorders, said that “the Republic of Cyprus is moving towards completing a deal with Greece which will have as a result reduction in the costs of medicine.”

After the agreement, Cypriot authorities will continue buying medicine from retailers in Cyprus but at the prices  negotiated by Greece.






Top Stories

Everything ready for inoculations among enclaved Greek Cypriots and Maronites

All necessary arrangements have been made to start inoculating against COVID-19 the enclaved population and those who repatriated in the Karpas peninsula and the...

Expert says any relaxations of COVID measures to be made gradually and aimfully

Any relaxations of COVID measures in place until the end of January should be made gradually and aimfully and with a specific procedure, member...

Roads toward Troodos open only to 4WD and vehicles with snow chains

Police are warning drivers heading to Troodos to be careful because of snow and fog and ice. The Karvounas-Troodos, Platres-Troodos and Prodromos Troodos roads are...

Health Ministry introduces new procedure for COVID inoculation appointments

Ηealth Ministry on Tuesday announced a new procedure for COVID inoculation appointments. Cyprus began the vaccination program of its population on December 27th with citizens...

Registration of motor vehicles from the UK

Following Brexit, the Road Transport Department, of the Ministry of Transport Communication and Works, announced the Regulations which now apply for the registration of...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...