Tuesday, April 16, 2024

Enhancing EU Healthcare Access: Urgency for More Biologic Competition and Biosimilars Medicines

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The future landscape of healthcare systems in Europe is poised for a transformation led by biosimilar medicines. Forecasts indicate that by 2032, biosimilars will wield an impact comparable to that of generic medicines, unlocking vital resources for healthcare systems, enhancing patient access, and fortifying budget sustainability. The updated 2023 IQVIA report, ‘The Impact of Biosimilar Competition in Europe’, unveiled at the European Commission’s annual stakeholder event, delves into the evolution of the biopharmaceutical market in the wake of biosimilar competition’s introduction in Europe.

Unveiling Biosimilar Medicines’ Clinical Milestones and Healthcare Savings

The report underscores a wealth of clinical experience amassed through biosimilar medicines, totaling 5.8 billion patient treatment days. Additionally, biosimilar medicines have made a substantial contribution to healthcare sustainability, amassing savings of €50 billion. Despite the availability of biosimilar medicines, the concerning trend of widening access disparities across EU member states looms large. Addressing this requires concerted policy efforts among multiple stakeholders to harness the potential of the imminent wave of biological Loss of Exclusivity.

Julie Maréchal-Jamil, Director of Biosimilars Policy & Science at Medicines for Europe, stressed the evident and positive impact of biosimilar medicines on availability, affordability, accessibility, and innovation. As the next wave of biotechnological medicines approaches, Maréchal-Jamil advocates for a pivotal shift in regulatory and market approaches. Coordinated actions at both EU and national levels are imperative to bridge existing disparities and adapt to evolving dynamics in the realm of biological medicines.

The European Commission’s annual multistakeholder biosimilar event serves as a crucial platform for fostering open and constructive dialogue among stakeholders in the biosimilar field. This event acts as a guiding light for shaping the European biosimilar policy agenda, steering it toward impactful and pragmatic pathways.

Biosimilars Medicines

Biosimilar Medicines Group’s 15-Year Impact and Path Ahead

The Biosimilar Medicines Group, a sector group within Medicines for Europe, stands as a collective representation of leading companies engaged in developing, manufacturing, and marketing biosimilars across Europe. With over 15 years of a positive track record in patient treatment, biosimilar medicines present a monumental opportunity to substantially bolster access to modern therapies for millions of European patients, spanning both chronic and acute care. By introducing healthy competition into the biological medicines market, these members enable greater access to cutting-edge treatments in Europe and worldwide while reinforcing the sustainability of European healthcare systems.

 

Resource: Medicines For Europe, December 13, 2023

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