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Drug Access

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healthcare2 years ago

EU's Drug Access and Price Equalization Plan Faces Pharma Industry Backlash

The European Union has launched a major overhaul of pharmaceutical legislation aimed at making medicines "more available, accessible and affordable." The reforms aim to deliver more timely and equitable patient access to medicines across the 27-nation bloc. However, pharmaceutical firms and lobby groups say the move could hamper innovation and the overall availability of drugs. The proposal reduces the exclusivity period given to newly-developed drugs entering the market from 10 years to eight. Companies can extend it up to 10 years if they launch the drug in all 27 EU member states within two years.