Presentation of the report “The Value of Generic Medicines”
GENERIC MEDICINES HAVE ENABLED TWICE AS MANY PATIENTS TO GET TREATMENT FOR THE SAME BUDGET
Generic medicines save European countries 100 billion euros per year
Rome, October 12, 2016 – Through generic medicine competition , twice as many patients were able to get treatment without any impact on the treatment cost, according to the conclusions of the IMS Institute for Healthcare Informatics study on The Role of Generic Medicines in Sustaining Healthcare Systems: A European and Italian Perspective presented today in Rome during the Assogenerici Public Assembly.
The Assembly was attended by high level officials from the Italian authorities, Medicines for Europe Executive members, and more than 200 participants ranging from patient groups, physician organisations, scientific groups and the main bodies of the Italian pharma supply chain. Ahead of the presentation of the study, the President of Assogenerici Enrique Häusermann commented: “Generic medicines bring great benefits for patients and enable European states to increase patient access to treatment while simultaneously decreasing expenditure”. This is especially important for Italy where out of pocket expenses for medicines can be high.
Generic medicines also drive economic development. Pierluigi Antonelli, Medicines for Europe Vice-President highlighted that: “The generics industry is a fundamental part of the future of the Italian and European healthcare systems and we have to be a central stakeholder in the light of the future challenges for our healthcare systems around Europe. Our industry is a significant contributor to economic growth, with major production located in Italy”.
Millions of European patients have benefited from better access to gold standard therapies, treating most acute and chronic ailments ranging from cardiovascular to diabetes and even to cancer. The generic medicines industry employs more than 160,000 people in Europe and generic medicines today represent 56% of the medicines prescribed in Europe.
Assogenerici is the official representative body of the Italian generic and biosimilar pharmaceutical industry. Formed in 1993, Assogenerici represents over 50 pharmaceutical companies and their subsidiaries. Companies represented within Assogenerici provide over 10,000 direct and indirect jobs in Italy and are operating with a manufacturing base of 37 plants located in Italy. Cost-effective generic and biosimilar medicines save Italian patients and healthcare systems over €400 million each year, thus helping to ensure patient access to essential medicines and providing urgently needed headroom for new and innovative treatments. Assogenerici plays an important consultative role in Italian healthcare policy-making. Assogenerici and its members work with Italian authorities to develop affordable solutions for pharmaceutical care and to increase Italy’s competitive strength in the global pharmaceutical medicines market.
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About MEDICINES FOR EUROPE
Medicines for Europe represents the generic, biosimilar and value added medicines industries across Europe. Its vision is to provide sustainable access to high quality medicines, based on 5 important pillars: patients, quality, value, sustainability and partnership. Its members employ 160,000 people at over 350 manufacturing and R&D sites in Europe, and invest up to 17% of their turnover in medical innovation. Medicines for Europe member companies across Europe are both increasing access to medicines and driving improved health outcomes. They play a key role in creating sustainable European healthcare systems by continuing to provide high quality, effective generic medicines, whilst also innovating to create new biosimilar medicines and bringing to market value added medicines, which deliver better health outcomes, greater efficiency and/or improved safety in the hospital setting for patients. For more information please follow us at www.medicinesforeurope.com and on Twitter @medicinesforEU.
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