Making Europe the medicines manufacturer of the world
Europe must seize on new opportunities to increase employment and create growth in the generic and biosimilar medicines markets. This was a key message delivered at the 17th Annual Conference of the European Generic medicines Association in Lisbon on 16-17 June 2011.
With the global biosimilar and generic medicines markets set to expand significantly over the next 10 years, it is imperative that Europe acts swiftly on the global stage. The EGA is therefore calling for the establishment of an EU export Bolar provision to take advantage of this new situation. This would allow the European generic and biosimilar medicines manufacturers to develop and manufacture within the patent/SPC life, provided these products are intended for export.
Over the next decade, patent expiries in biopharmaceuticals would be the equivalent of 90 billion Euros in sales. At the same time, the global generics market is set to experience a predicted 10% in annual net growth, reaching 92 billion Euros in 2012. “The global expansion of these more affordable treatments is clearly of major importance to patients and healthcare systems, but the EU must take the opportunity to lead the world in the development and manufacturing of these products,” EGA Director General Greg Perry said.
Europe has a history of high quality production and significant manufacturing capacities in the medicines sector. However, other countries, such as India and South Korea, have already established task forces in order to promote strategies that would see them evolve into important hubs for medicines discovery.
If the EU legislators do not act now, Europe will fall behind in its drive to deliver sustainable and high quality medicines to patients. Moreover, by acting quickly the EU will have the chance to create jobs and enhance its competitiveness.
