Dr Charles Tannock

Member of the European Parliament for London

Prices of medicinal products for human use

Delivered in Plenary - 6th February 2013

Madam President

20 years ago there were only 12 Member States and the single market was only a few months old. Despite all the fundamental changes that have occurred since then, the existing directive regulating the pricing of pharmaceutical products has not once been amended. It is therefore absolutely necessary to update this directive in the interests of patients and health insurance providers.

While the transparency directive will encourage greater efficiency, efficiency does not translate automatically into hastiness, which is why I welcome the compromises on time limits. Above all this legislation, which I voted for, could offer an exemplary reconciliation of Member State competence and Single Market harmonisation, giving patients faster and more cost-effective access to medicines while ensuring that their prices are fairly administered within the limits of national rules and regulations.

Let me also put on the record that I am proud that the European Medicines Agency is based in my London constituency a rare example of an EU agency which provides good value for money.