Spain cuts Pharamceutical spending by 8.8 pct in 2011

Spain managed to reduce its prescription drugs bill by 8.8% last year, however the industry says that by the end of 2011 the regions still owed a total of €6.37 billion euros.

Overall spending on prescription drugs fell to €11.136 billion euros last year, a fall of €1.4 billion euros on 2010, when pharmaceutical spending fell by 2.4%.

The media also reports how the number of prescriptions issue by Doctors grew just 1.6% in 2011, compared with increases of 2.5% and 4.9% in 2010 and 2009, respectively.

Meanwhile, the value of prescribing pharmaceutical drugs in Spain's Hospitals increased 55% between 2008 and 2011 - an increase in value of some €5.8 million euros in 2011.

Last week, industry association Farmaindustria reported that Spain's 17 regions owed pharmaceutical companies a total of €6.37 billion euros by the end of last year. The debt was now 36% higher than at the end of 2010, with payments being delayed by an average of 525 days, the group added.