OBJECTIVES: The study examined: a) the relationship between pharma care and health outcomes, b) the influence of expenditure on drugs to the level of expenditure on other forms of care c) the impact of providers on the level of pharma expenditure METHODS: We conducted linear multiple regression analysis with pharma expenditure as independent variable, and dependent variables such as clinical indicators and expenditure of other categories. Also, we conducted analyses with number of physicians and pharmacists as independent variables and pharma expenditure as dependent. Analyses were conducted for all Eurozone countries (2003-2011). All tests of statistical significance were two-tailed, and p-values of less than 0.05 were considered significant. RESULTS: Increased total per capita outpatient pharma expenditure (in US $ PPP’s) by 10% was related to increase in life expectancy: a) at birth for men by 0.41% (p=0.07), b) for men 65+ by 2.35% (p=0.004), and c) at birth for women by 0.37% (p=0.03). Moreover, increased public pharma expenditure as a % of total current public expenditure by 10% was related to a reduction of public current health expenditure (as a % of GDP) by 2.8% (p<0.001). A 10% increase of total pharma expenditure as a % of total current health expenditure as a % of GDP, was related to a reduction of total current health expenditure as a % of GDP by 3.3% (p=0.045). Finally, an increase in the number of pharmacists/100,000 population by 10% was related to an increase of total per capita pharmaceutical expenditure by 0.93% (p=0.07). CONCLUSIONS: Overall drug expenditure is positively related to population health and negatively connected with the level of total health expenditure, a finding that should influence political decisions on public insurance coverage.  The accuracy of our results will be further enhanced by similar research in the future, when longer time series data are available.