Minister says proposal for voluntary procurement of medicines welcomed by EU counterparts

Cyprus' proposal to the EU Health Council for the creation of a voluntary joint procurement mechanism for medicines, aimed at enhancing access, availability, and affordability of innovative medicines, received "an extremely positive reception," Health Minister Michael Damianos has said.

In statements after the 11 December Cabinet meeting in Nicosia, Damianos said he informed the members "about the extremely positive reception" of Cyprus' proposal at the EU Health Council, which took place on 4 December.

"This proposal concerns the creation of a voluntary joint procurement mechanism for medicines, with the goal of improving access, availability, and affordability of innovative medicines, initially focusing on oncology drugs," the Minister added.

He noted that this proposal aims to create a voluntary mechanism that would allow member states to collaborate on the joint procurement of innovative pharmaceutical products, which will be evaluated based on the new Health Technology Assessment (HTA) regulation, set to take effect on 1 January, 2025.

The proposal, he said, which has generated significant interest, has been co-signed by Cyprus, Croatia, Denmark, Greece, Latvia, Malta, and Slovenia, while Estonia, Lithuania, Portugal, and the Czech Republic supported the initiative verbally.

The Minister noted that they have already made note of "extensive coverage by international media, which shows how critical the need for such an initiative is."

According to the Minister, the initiative aims to offer three key benefits, the first being negotiating power. "Joint procurement of medicines creates a larger market, providing member states with a negotiating advantage in terms of economies of scale, as the agreements will involve a larger number of patients, Damianos said.

Referring to the second benefit, he said that this collaboration will enable more efficient pricing and reimbursement processes, reducing bureaucracy and the procedures that often burden national health services.

The third benefit is improving access. "Joint procurement will help ensure the continued availability of medicines and promote innovation in Europe," the Minister said.

He also noted that this proposal aligns with the recommendations of the Draghi report to enhance competitiveness within the European Union and address the need to improve the functionality of the pharmaceutical market.

Damianos added that "we will continue our efforts to implement this proposal and garner support for it at the European level."

(Source: CNA)