Cyprus in crisis: Recent changes in the pharmaceutical market and options for further reforms without sacrificing access to or quality of treatment

- The financial crisis in Cyprus led to a bailout programme.
- This paper reviews the measures recently introduced after recommendations by the Troika.
- We discuss the weaknesses of the pharmaceutical market in Cyprus.
- We provide recommendations on improving efficiency without sacrificing access to care.
- A swift implementation of universal health insurance is also recommended.

The pharmaceutical market in Cyprus has been characterised by high volume and a steep increase in per-capita expenditure over the past decade. Most importantly, the market is fragmented due to the absence of universal health insurance, and the uninsured have to rely exclusively on the private market. The objective of this study is to examine the weaknesses of the Cypriot pharmaceutical market before the financial crisis; to discuss the measures recently introduced after recommendations by the Troika; and to propose interventions that can improve access to pharmaceuticals and efficiency without compromising health outcomes. Apart from the introduction of new pharmaceutical policies, we also recommend the swift implementation of universal health insurance.