France has revised two elements of the regulated remuneration received by pharmaceutical wholesalers for distributing reimbursed medicines to community pharmacies. The changes take effect on 20 January 2027 and adjust the economics of low-priced and cold-chain products within the existing wholesale-margin framework.
An order dated 3 August and published in the Journal officiel de la République française on 11 August amends the Arrêté du 4 août 1987 relatif aux prix et aux marges des médicaments remboursables et des vaccins et des allergènes préparés spécialement pour un individu (Order of 4 August 1987 on prices and margins for reimbursed medicines, vaccines and individually prepared allergens).
The central 6.93% wholesale margin remains unchanged for the portion of the ex-factory price up to €468.97, as does the €32.50 maximum. Above €468.97, no additional percentage margin applies. The change is to the minimum remuneration per pack, which falls from €0.30 to €0.22.
The reduction is therefore concentrated on the lowest-priced medicines, where the percentage calculation would otherwise produce only a small absolute margin. The previous €0.30 minimum had applied since February 2021. The new €0.22 floor reduces the guaranteed wholesale return on these packs while leaving the margin on most higher-priced medicines unchanged.
The order moves in the opposite direction for products that must be kept refrigerated before opening. The additional cold-chain payment increases from €0.63 to €0.80 per pack, recognising the additional distribution requirements associated with temperature-controlled storage and transport.
The changes come amid wider scrutiny of pharmaceutical distribution economics. A joint 2026 report from the General Inspectorate of Social Affairs and General Inspectorate of Finance examined regulated distribution margins and the financial flows between manufacturers, wholesalers and pharmacies, calling for a sustainable distribution model. Parliamentary analysis has also highlighted continuing economic pressure on wholesalers operating under public-service supply obligations.
The January changes leave the basic wholesale-margin model intact but alter how remuneration is distributed within it. Wholesalers will receive less protection on very low-priced packs and greater compensation for refrigerated medicines, shifting part of regulated remuneration towards products with higher logistical requirements.
Source: Légifrance
Link: Arrêté du 3 août 2026 modifiant l'arrêté du 4 août 1987 relatif aux prix et aux marges des médicaments remboursables et des vaccins et des allergènes préparés spécialement pour un individu (Order of 3 August 2026 amending the Order of 4 August 1987 on prices and margins for reimbursed medicines, vaccines and individually prepared allergens)
Date: 11 August 2026
