Generics account for 62% of medicines dispensed in Europe

At the International Generic and Biosimilars Medicines Association (IGBA) meeting currently taking place in Lisbon, Portugal, in addition to international regulatory cooperation, several key studies were presented at the conference that highlight the need for a major overhaul of medicines policies to stimulate more access to generic, biosimilar and value added medicines.

Among these, new Quintiles 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.

A new Economist Intelligence Unit report underlined that unsustainable pricing policies are leading to shortages of essential life-saving medicines. The industry vowed to change policies that threaten patient access.