OBJECTIVES: Pharmaceutical market was put in the centre of the Stand-By Arrangement (SDR) agreement. The main target was to control pharmaceutical expenditure and to implement new policies in the pharmaceutical sector. Given these reforms the aim of the study was to evaluate stakeholder’s views regarding these measures and the future of the pharmaceutical market in Greece. METHODS: A qualitative study, using the method of semi-structured interviews was conducted using an open-ended questions guide. In total 17 interviews (out of 24 targeted stakeholders) were conducted, tape recorded, transcribed and content analyzed. The participants represented public and private sector organizations and academic organizations as well that are involved in the pharmaceutical market and policy. RESULTS: Rising pharmaceutical expenditure, chronic distortions of the pharmaceutical market such as increasing number of health professionals and lack of strict regulations were mentioned as the main characteristics of the pharmaceutical market in Greece. These problems along with the financial crisis in Greece created a pessimistic environment for the pharmaceutical market and magnified the existing problems because of the hasty and non-organized decisions that were taken under the pressure of economic crisis. Stakeholders estimated that the next 4-5 years will be hard for the industry and the recession in this sector cannot be avoided. However, they predict that after this period everything will come back to normal. CONCLUSIONS: Stakeholders representing the public sector had more positive views compared to those coming from the private sector or academic institutions that expressed negative opinions or were in generally more skeptical. The greatest concern however on all groups was that the continuous reforms could lead to the destabilization of the pharmaceutical market and thus having a negative impact on the quality of the provided services and products.