The generics industry is urging EU and national governments to show “leadership” and take immediate action against rising inflation, which has resulted in drug shortages and has put patients in need to the test.
Can the European Union bring eye-wateringly expensive medicines to the poorest parts of Europe, find cures for untreatable diseases, and solve the problem of antimicrobial resistance, all with a stroke of its pen?
Medicines have a unique value to public health and society at large. They are vital for our wellbeing, either to manage serious conditions such as cancer, diabetes, bacterial infections, cardiovascular diseases, auto-immune conditions, or to prevent illness and manage symptoms that allow everyone to carry on with their lives.
Victor Mendonça, chair of the Generic Market Access Committee at Medicines for Europe, outlines why patient access to medicines is at risk due to intense price pressure and unprecedented inflation and proposes ways to tackle this.
Ahead of her session on “Manufacturing Excellence” at CPHI Frankfurt (1–3 November), Elisabeth Stampa, President of Medicines for Europe, along with Adrian van den Hoven, Director General of Medicines for Europe, map out the impact of EU supply chain regulation on pharma companies in an exclusive article for Manufacturing Chemist
Open
Inflation across Europe has risen beyond 10%. This increases the manufacturing costs of essential, off patent medicines, which account for 70% of those dispensed in Europe. These medicines treat serious, debilitating conditions such as cancer, diabetes, cardiovascular diseases, and auto-immune conditions.
Inflation is at an all-time high, opening an opportunity for CDMOs to invest in potentially cheaper sustainable alternatives.
The generic drug industry lobby group Medicines for Europe on Tuesday sent an open letter to European Union member states’ energy and health ministers.
For the last decade, off-patent medicines, which represent the 70% of dispensed medicines in the European Union, have been subject to strict price regulation, budget austerity measures, and lowest-price tender rules, causing substantial price erosion and an unsustainable situation for manufacturers. This has been exacerbated by the Covid-19 crisis and the war in Ukraine, which has dramatically increased general inflation (now over 9%), raw material costs (risen by between 50-160%), transportation costs (up to 500%) and energy prices.
Read the full Open Letter to EU energy Ministers