Drugmakers pledge faster market launch in Europe to avoid strict laws
Category: #healthcare  By Mateen Dalal  Date: 2022-04-11
  • share
  • Twitter
  • Facebook
  • LinkedIn

Drugmakers pledge faster market launch in Europe to avoid strict laws

To avoid tougher regulations introduced by Brussels, several drugmakers have reportedly agreed to speed up the market debut of new treatments in underserved European Union member states.

In a statement, the EFPIA (European Federation of Pharmaceutical Industries and Associations) stated that its members have vowed to file for compensation by national health systems two years after EU regulatory approval, assuming local systems would approve the same.

While medicine approval in the EU is mainly centralized, with the European Medicines Agency functioning as a regulator, procedures for determining treatment prices for national health systems stay with the member states and vary widely.

According to EFPIA, the plan would cut the time patients wait for new medications by four to five months in certain countries, including Poland, Bulgaria, and Romania.

But an advocacy group has claimed that any new restrictions requiring drugmakers to deliver new drugs to all EU countries within a particular time frame might backfire, further discouraging other businesses from introducing some products to public health systems in the EU.

EFPIA has also stated that some of the proposals could create obligations for drugmakers in terms of market supply to all EU Member States.

Meanwhile, the pharmaceutical industry is found to be concerned about the usage of regulatory tools established for medicines approval being employed to solve availability issues that are within member states' purview, the EFPIA added.

According to a report, the average time between EU market clearance and specific patient groups obtaining a newly produced treatment varies greatly across the EU, ranging from 133 days in Germany and 497 days in France to 899 days in Romania.

It appears that these delays were caused by various regulatory constraints outside the companies' control. The lobbying group also said that it would propose a harmonized system of tiered medicine pricing depending on a country's ability to pay in the EU's very fragmented price-setting landscape.

Source Credits –

https://www.theedgemarkets.com/article/drugmakers-pledge-speedier-european-market-launches-avert-stricter-regulation

About Author

Mateen Dalal    

Mateen Dalal

Despite working as a professional testing engineer, Mateen Dalal always held a liking for content creation. Following his passion, he now pens down articles for itresearchbrief.com and a couple of similar portals. Mateen is a qualified electronics and telecommunicat...

Read More>>

More News By Mateen Dalal

Rockefeller Foundation donates $15Mn to fight AIDS, TB & Malaria
Rockefeller Foundation donates $15Mn to fight AIDS, TB & Malaria
By Mateen Dalal

The Rockefeller Foundation has reportedly announced that it intends to donate $15 million to the Glo...

Meta settles Facebook’s location tracking lawsuit at USD 37.5 million
Meta settles Facebook’s location tracking lawsuit at USD 37.5 million
By Mateen Dalal

According to recent court documents, Facebook parent Meta has settled worth USD 37.5 million for a l...

Toyota India reboots growth strategy, shifts focus to hybrid vehicles
Toyota India reboots growth strategy, shifts focus to hybrid vehicles
By Mateen Dalal

Leading Japanese automobile manufacturer, Toyota is reportedly rethinking its approach to the Indian...