Actavis, the generic drug manufacturer, has announced it has reduced the price of 40 pharmaceuticals on the Icelandic market from 1st October.
The move is a result of changes to Icelandic pharmaceutical laws which took effect from the beginning of this month. The reductions are similar to those that the company announced in May this year.
The total price reductions amount to around 200 million Icelandic kronur on an annual basis.
Some of the drugs reduced include:
• Cholesterol-lowering drug Atacor reduced by 15%. This generic drug is not available in Scandinavia but was introduced to the Icelandic market in June 2006.
• Heart drug Valpress reduced by 20%. Also not available in Scandiavia but introduced to Iceland in December 2007.
• Cancer drug Bicalutamid Actavis reduced by 15% on 1st May and a further 8% on 1st October.
• Psychotropic drug Olanzapin Actavis reduced by 16%.
• Migrain drug Sumacta reduced by 17% on 1st May and a further 10% on 1st October
Actavis says the price of its drugs in Iceland is around 35% lower than comparable drugs, and in some cases the difference can be up to 80%.
Actavis is a leading generic drug manufacturer which is based in Iceland. The company has operations in 40 countries and 11,000 employees.
The latest price list of Icelandic drugs can be found at: www.lgn.is/lyfjaverdskra.php