Drug costs a top concern for consumers as over-the-counter medicine prices rise

Almost half of Irish adults say the price they pay for everyday, over-the-counter medicines has increased sharply over the past 12 months, according to a new survey from Azure Pharmaceuticals, as pharmacies pass on the cost of medicines shortages and rising business expenses.

A host of prescription and non-prescription drugs have been added to the Health Products Regulatory Agency’s (HPRA’s) shortages list at various times over the past two years due to a range of issues – from manufacturing delays to quality issues.

Over-the-counter treatments containing paracetamol, including Solpadeine, aspirin and eye drops for treating seasonal allergies are in short supply at the moment, according to the HPRA’s database, along with many others.

Against this backdrop, the price of non-prescription medicines jumped by 5.1 per cent in the 12 months to the end of March, according to the Central Statistics Office’s latest consumer price index.

Irish productivity myth debunked

---

Can US modular home specialist deliver for Ireland?

---

Meme stock mania is unlikely to last

---

It’s raining metaphors at Manchester United amid soggy aftermath of underinvestment

---

Some 49 per cent of adults who responded to Azure’s survey said they had noticed increases in the price they pay for everyday drugs.

Azure, which specialises in providing older, generic medicines that are still in common use, is launching a range of lower-cost over-the-counter medicines over the next 12 months, including Fexofenadine, an unbranded antihistamine for hay fever symptoms.

The company found that just 8 per cent of the more than 1,000 survey respondents considered the brand of their over-the-counter treatment to be important when choosing a product. Instead, consumers prioritise price, with 85 per cent of respondents indicating the cost of the product is important or very important to them when making a decision.

Has Apple Inc run out of ideas?

Listen | 20:14

On the question of generic versus branded treatments, pharmacists play an important role, according to the research.

Some 55 per cent of respondents said a pharmacy recommendation in favour of a generic alternative would have a significant impact on their choice.

Azure chief executive Sandra Gannon said the research highlights the savviness of Irish consumers and validation of the company’s strategy.

“Irish consumers are really smart, they’re highly educated,” she said. “They’re used to getting generic medicines for prescription products and they understand that in getting that, that they’re getting a less expensive medicine. Why would we not expect that they would be that smart when it comes to buying over-the-counter medicines?”

She added: “This is a validation of the conviction we have that patients are smart and they want value for money and they understand when something is recommended by the pharmacy and licensed here, that they don’t need to worry about quality and they can pocket the savings.”

A survey conducted by the Irish Pharmacy Union in advance of its national conference in April found that all pharmacies had experienced medicine shortages in the past four months, with 57 per cent saying they ran into trouble securing supplies of 40 different medicines.

Close to two-thirds of pharmacists say allocations imposed by manufacturers are the leading cause of medicine shortages.

• Sign up for Business push alerts and have the best news, analysis and comment delivered directly to your phone
• Find The Irish Times on WhatsApp and stay up to date
• Our Inside Business podcast is published weekly – Find the latest episode here