A generic medicine provides the same quality, safety and efficacy as the original brand name product.
70% to 80% of all healthcare costs in the EU - an estimated €700 billion - is currently spent on chronic diseases.
Without generic medicines, Europe would have had to pay €100 bn more in 2014 for its medicines.
Biosimilar medicines are approved by the same stringent regulatory bodies authorising all biologic medicines in Europe.
A generic medicine undergoes strict scrutiny before it is licensed and given market approval by the European or national medicines authorities.
The use of biosimilar medicines is expected to result in overall savings from 11.8 up to 33.4 billion euros for 8 EU countries between 2007 and 2020.
Generic medicines bring down the price of originator drugs through market competition.
EU approved biosimilar medicines are available for patients in over 60 countries around the world, and recognised as high quality, safe and effective medicines.
Generic medicines improve the cost-effectiveness of existing therapies.
The entrance of biosimilar filgrastim increased patient access by 44% in the UK between 2006 and 2013.
Generic medicines increase patient access to high-quality medicines and reduce expenditure while maintaining the same volume.
Appropriate generic medicines policies can improve medication adherence.
Over 15 European countries have manufacturing sites for biosimilar medicines, or biosimilar candidates under development or under evaluation.
The Generic Medicines Group is a leading partner for better healthcare for all EU citizens.
The first worldwide biosimilar medicine is somatropin and it was approved in the EU in 2006.
Bioequivalence is the key factor in creating a generic medicine.
Our members are devoted to primary care medicines which represent 80% of healthcare spending.
The first biosimilar monoclonal antibody medicine is infliximab and it was launched in the EU in 2014.
Generic medicines increase patient access to therapies by driving competition in the market.
12 biologic medicines with global sales of 78 billion euros in 2014 alone will lose exclusivity by 2020 in Europe.
Generic medicines manufacturers invest between 7-17% of their turnover in research and development.
Since 2006, biosimilar medicines have generated more than 400 million patient days of clinical experience.
Generic medicines are the first line treatment for most chronic diseases such as diabetes, high cholesterol or hypertension.
The basic scientific principle of biosimilar medicines development is comparability.
80% of the costs in healthcare systems today are linked to chronic disease.
