Europe needs to invest in its generics and biosimilar drug market with specifically purposed legislation, the annual conference of the European Generic medicines Association heard.
Speakers at the meeting, which was held in Lisbon, Cascais, Portugal, suggested that the continent’s generics market is at risk of being surpassed by those of India and Thailand, which they claim have begun tasks forces designed to make them “hubs for medicines discovery”.
To meet this challenge, the trade body described a need for Europe to set up a “European Union export Bolar provision”, which it claims would take advantage of the new market environment.
The provision would let generic and biosimilars manufacturers that are based in Europe manufacture generic medicines before the patent of the original product has expired, as long as the medicines are planned to be exported.
Over the next decade, patent expiries in biopharmaceuticals would be the equivalent of €90billion in sales. Meanwhile, the global generics market is set to experience a predicted 10% annual net growth, reaching €92billion in 2012.
EGA Director General Greg Perry said: “The global expansion of these more affordable treatments is clearly of major importance to patients and these healthcare systems.
But he stressed: “The EU must take the opportunity to lead the world in the development and manufacturing of these products.”