GMiA in deal with Australian government on affordable generics and biosimilars

The Generic Medicines Industry Association (GMiA) has signed a strategic agreement with the Australian government to support the ongoing supply of affordable generic and biosimilar medicines in Australia and deliver a five year period of certainty for the industry that provides them.

The accord recognizes the essential role of generic medicines and biosimilars in delivering affordable health care through the Pharmaceutical Benefits Scheme (PBS), says the GMiA, adding that it also recognizes the significant savings that continue to be delivered by generic medicines and biosimilars, first by providing competition and then through price disclosure.

“Every time a patient or health care professional uses a generic medicine or a biosimilar it saves money that can be used to pay for newer PBS medicines. GMiA members have, and continue to, deliver billions of dollars in PBS savings,” said Mark Crotty, GMiA chairman. “GMiA and the government have a common interest in the ongoing and reliable access to affordable generic medicines and biosimilars, a strong PBS that can meet the current and future needs of Australians, and having a sustainable generic medicines sector,” he added.