Generic medicine made it possible for twice as many patients to get treatment without any impact on the expenses

Generic medicines save European countries 100 billion euros per year

At the national congress of Assogenerici (organization of the Italian manufacturers of generic and biosimilar medicines) held on October 12, 2016 in Rome was presented a report on the topic: "The value of generic medicines" as the main emphasis was placed on the competition in generic medicines, with the help of which twice as many patients received treatment without increasing costs, it stated in a survey by IMS - Institute for Healthcare Informatics on "The Role of generics to maintain sustainable health systems: European and Italian perspective” (The Role of Generic Medicines in Sustaining Healthcare Systems: A European and Italian Perspective).

The congress was attended by representatives from the Italian authorities, Medicines for Europe, and more than 200 participants ranging from patient groups, physician organizations, scientific groups and participants in the Italian pharma supply chain. Ahead of the presentation of the study, Enrique Hausermann, President of Assogenerici, 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 boost economic development. Pierluigi Antonelli, Vice President of Medicines for Europe, highlighted that: “The generics industry is a fundamental part of the future of the Italian and European healthcare systems and we have to be central stakeholders in the light of the future challenges for our healthcare systems around Europe. Our industry is a significant factor, contributing 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 diseases - ranging from diseases of the cardiovascular system 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.