Olivia Mitchell (Dublin South, Fine Gael) | Oireachtas source

I also welcome the opportunity to speak on this legislation. It could hardly be more crucial and discussion on it could not be more timely as we approach a budget with a health bill that takes up 27% of all Government expenditure, costing a massive €13 billion, with medicines now comprising almost €2 billion. It must be a major element of any cost-containment exercise. It is vital that we contain costs because we need to maintain access to vital medicines.

I very much welcome the conclusion this week of an agreement with the Irish Pharmaceutical Healthcare Association. While it took considerable effort the savings for next year are projected to be €116 million. I seek more information on the deal. Is it a once-off three-year arrangement? Will our medicines continue to be priced by reference to a basket of European medicines as we did in the past or is a new formula being found? I take the opportunity to congratulate the Minister of State and wish him well in his difficult job.

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