Oireachtas Joint and Select Committees

Thursday, 12 March 2015

Joint Oireachtas Committee on Health and Children

Cost of Prescription Drugs: Discussion (Resumed)

9:30 am

Mr. Shaun Flanagan:

No, it does not. The Deputy should remember that they have sold the stock into Ireland. Once they sell it into Ireland in the wholesale chain, they have sold it at €10 and no longer own the stock. It has gone into the distribution chain. A third party takes it at that €10 price and exports it to another market at €20. The pharmaceutical company gets no benefit. In fact, if one thinks it through, the pharmaceutical company loses. That is because if it is a higher-price market, they could have sold it in the other market for €15, so it is the third party which benefits.

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