Health Minister reiterates Cyprus' initiative for voluntary mechanism for medicines

07:54 - 20 February 2025

Economy Reporter

Minister of Health Michael Damianos has noted that Cyprus, as a small market, has a shortage of a number of medicines and reiterated Cyprus' initiative for the establishment of a voluntary mechanism for joint procurement of medicines between the member states.

According to an official press release, the Minister participated in a High-Level Conference in Brussels on critical medicines for health security, the current challenges and the way forward", organised by the Polish Presidency of the Council of the European Union.

The Minister on 19 February took part in the first panel discussion together with other EU Ministers of Health, officials from the Directorate-General for Health of the European Commission, as well as the Director of the European Chemical Industry Council.

In his intervention, he said that Cyprus, as a small market, faces challenges in access, resulting in shortages of a certain number of medicines. He reiterated Cyprus’ recent initiative to create a voluntary mechanism for joint procurement of medicines between the member states, which was supported by a number of participants.

Regarding funding strategies, the Minister said that “we could develop further incentives at EU level for companies to increase the production of both innovative and critical medicines, so that we can reduce the risks of shortages of critical medicines.”

He also noted that possible legislative regulations must be taken into account, so as to assist the production of critical medicines within the EU by the pharmaceutical industry.

(Source: CNA)

Health Minister reiterates Cyprus' initiative for voluntary mechanism for medicines

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