OBJECTIVES: In an attempt to assess time to market and price levels of innovative drugs, we surveyed market availability and drug prices for a basket of drugs in the top 5 European pharmaceutical markets. METHODS: The market availability of 125 innovative drugs – approved between July 2009 and April 2012 by the European Medicines Agency – in France, Germany, Italy, Spain, and the United-Kingdom was analysed. Within this sample, prices of 10 drugs marketed in each of the market studied were compared. RESULTS: Most of the drugs included in our sample are marketed in Germany and the United Kingdom, 59% and 54% respectively. In Spain, France and Italy this figure drops to 39%, 33%, and 32% respectively. It should be highlighted that only 14% of the drugs was available in all the markets analysed. Prices are commonly the highest in Germany and lower in Italy or the United Kingdom. Additionally, while for an identical drug, most examples show significant price differences between the markets studied, a few showed that the price corridor was relatively narrow. CONCLUSIONS: Our results show that Germany and the United Kingdom – where prices have not been directly controlled – are still prioritised, while market entry occurs at a later stage in France, Italy and Spain. The fact that large price differences are still observed between countries means that there is still flexibility in terms of pricing strategies. The pricing procedure implemented in 2011 in Germany, has not had an immediate impact on prices - which are still the highest. However, an impact is already being felt on market access. Several innovative drugs were not launched in Germany when the price outcome was expected to be unsuccessful.