62% of medicines dispensed in Europe are generic

New IMS data reveals the growing importance of generic medicines for public health as they now account for 62% of medicines dispensed in Europe delivering huge value while impacting only 4% of total healthcare budgets. 

At the same time a new Economist Intelligence Unit report underlined that unsustainable pricing policies are leading to shortages of essential life-saving medicines. Global industry leaders and regulators advanced a clear proposal to increase regulatory cooperation to ensure safety, quality and efficacy while reducing administrative redundancies.

“We need to implement the recommendations of the WHO Fair Pricing Forum: dialogue between regulators, payers and industry should tackle unsustainable procurement policies”, added Adrian van den Hoven, Chair of the IGBA.

Pharmaceutical industry leaders and key stakeholders from the generic, biosimilar and value added medicines sectors are meeting in Lisbon, Portugal 14-16 June to foster international partnership, cooperation and dialogue to address public health challenges for the future during the joint23rd Medicines for Europe and 20th IGBA Annual Conference. 

Sopharma AD is a member of Medicines for Europe and actively participates in industry development dialogue.