Galway Bay fm newsroom - A new report has found that using generic and biosimilar medicines could free up €54 million for HSE resources in Galway over the next five years.
The ‘Reductions in the Cost of Medicines,’ report has found that the HSE locally could enjoy enough saving to hire an additional 325 nurses.
According to the report, switching to generic and biosimilar medicines would save the HSE in Galway €10.8 million per anum.
The report sets out how a saving of €54.2 million in Galway over five years could allow for an additional 325 nurses or an extra 190 nursing home beds in the county.
Meanwhile, the switch to generic medicine would have lead to a cost reduction of €86.7 million since 2013, which amounts to almost €1,400 in savings per Galway family as of the latest census.
The report by Irish pharmaceutical trade association Medicines for Ireland, has found that switching would save the state in excess of €1 billion over the next five years.
The group states that in the last 12 months the average reimbursed price of generic medicines was six times less expensive when compared with non-generic medicines.
