The China Mail - EU to unveil reforms for cheaper drugs

USD -
AED 3.67302
AFN 70.749338
ALL 86.742549
AMD 388.618649
ANG 1.80229
AOA 917.500075
ARS 1178.051701
AUD 1.55826
AWG 1.8025
AZN 1.700534
BAM 1.715765
BBD 2.010483
BDT 120.984297
BGN 1.7157
BHD 0.376886
BIF 2961.383932
BMD 1
BND 1.308314
BOB 6.895342
BRL 5.652599
BSD 0.995767
BTN 84.626755
BWP 13.650021
BYN 3.25865
BYR 19600
BZD 2.000132
CAD 1.38345
CDF 2878.999518
CHF 0.825003
CLF 0.024599
CLP 943.990299
CNY 7.295013
CNH 7.269715
COP 4217
CRC 503.44755
CUC 1
CUP 26.5
CVE 96.729199
CZK 21.869049
DJF 177.318683
DKK 6.552185
DOP 58.678527
DZD 132.422969
EGP 50.855033
ERN 15
ETB 133.284734
EUR 0.87775
FJD 2.25435
FKP 0.746656
GBP 0.745615
GEL 2.740545
GGP 0.746656
GHS 14.438109
GIP 0.746656
GMD 70.999952
GNF 8624.138113
GTQ 7.668858
GYD 208.325292
HKD 7.758815
HNL 25.813639
HRK 6.616297
HTG 130.287559
HUF 354.518503
IDR 16760.4
ILS 3.626699
IMP 0.746656
INR 85.187451
IQD 1304.412668
IRR 42112.495489
ISK 128.260185
JEP 0.746656
JMD 157.738448
JOD 0.709199
JPY 142.655497
KES 129.249499
KGS 87.450267
KHR 3986.174711
KMF 432.500387
KPW 900.101764
KRW 1433.845047
KWD 0.30639
KYD 0.829897
KZT 510.667602
LAK 21537.476314
LBP 89218.19075
LKR 298.222682
LRD 199.142934
LSL 18.591041
LTL 2.95274
LVL 0.60489
LYD 5.447727
MAD 9.23274
MDL 17.057337
MGA 4428.361515
MKD 54.025931
MMK 2099.785163
MNT 3572.381038
MOP 7.955435
MRU 39.409969
MUR 45.203992
MVR 15.409851
MWK 1726.25392
MXN 19.62078
MYR 4.32599
MZN 63.999919
NAD 18.591041
NGN 1602.030006
NIO 36.642279
NOK 10.37059
NPR 135.401863
NZD 1.67639
OMR 0.385007
PAB 0.995789
PEN 3.654268
PGK 4.123024
PHP 56.172498
PKR 279.80139
PLN 3.743849
PYG 7973.331579
QAR 3.629417
RON 4.369602
RSD 102.824809
RUB 81.648547
RWF 1404.653815
SAR 3.751158
SBD 8.354312
SCR 14.65233
SDG 600.496472
SEK 9.60104
SGD 1.30836
SHP 0.785843
SLE 22.686694
SLL 20969.483762
SOS 569.072527
SRD 36.84966
STD 20697.981008
SVC 8.713045
SYP 13001.961096
SZL 18.585433
THB 33.371013
TJS 10.504897
TMT 3.5
TND 2.969731
TOP 2.342101
TRY 38.44238
TTD 6.758369
TWD 32.284019
TZS 2694.999956
UAH 41.510977
UGX 3652.074743
UYU 41.923443
UZS 12902.008948
VES 86.54691
VND 26005
VUV 121.306988
WST 2.770092
XAF 575.438735
XAG 0.0301
XAU 0.000302
XCD 2.70255
XDR 0.715661
XOF 575.438735
XPF 104.623213
YER 245.103552
ZAR 18.57321
ZMK 9001.208908
ZMW 27.806215
ZWL 321.999592
  • RBGPF

    60.8800

    60.88

    +100%

  • RYCEF

    -0.0600

    10.12

    -0.59%

  • CMSC

    -0.0100

    22.32

    -0.04%

  • BCC

    -0.1800

    95.33

    -0.19%

  • CMSD

    0.0200

    22.48

    +0.09%

  • NGG

    0.8100

    72.85

    +1.11%

  • SCS

    -0.0300

    9.86

    -0.3%

  • BCE

    0.1600

    21.81

    +0.73%

  • RIO

    0.3100

    60.87

    +0.51%

  • RELX

    -0.1900

    53.36

    -0.36%

  • JRI

    0.0600

    12.8

    +0.47%

  • VOD

    0.2200

    9.57

    +2.3%

  • BTI

    0.3400

    42.39

    +0.8%

  • GSK

    0.6300

    38.06

    +1.66%

  • AZN

    0.3600

    69.93

    +0.51%

  • BP

    -0.0600

    29.13

    -0.21%

EU to unveil reforms for cheaper drugs
EU to unveil reforms for cheaper drugs / Photo: © AFP/File

EU to unveil reforms for cheaper drugs

The EU on Wednesday is to unveil a long-awaited proposed reform of legislation governing pharmaceutical drugs to make them cheaper, prevent shortages and speed up delivery of new compounds.

Text size:

The overhaul aims to bring "timely and equitable access for patients to affordable drugs" in the bloc, EU health commissioner Stella Kyriakides tweeted.

The reform is the biggest in two decades, and has in part been informed by Brussels' swift, concerted action during the Covid pandemic that underscored the benefits of less-burdensome procedures, greater transparency and joint measures.

The pharmaceutical industry has been intensively lobbying ahead of the presentation of the proposals.

A leak in February of a draft version of them sparked criticism from companies worried that the exclusive period they had over selling new drugs could be shortened from 10 years to eight.

The European Federation of Pharmaceutical Industries and Associations warned against steps that could constrain innovation.

While the European Commission aims to bring down the cost of medicines, it doesn't have the power to set prices in the European Union.

That is the prerogative of national governments who negotiate with pharmaceutical groups.

The EU executive is also intent on tackling shortages of drugs for rare diseases, and unequal access to medicines across the 27-nation bloc, especially in eastern member states.

Another challenge to be tackled is increasing microbial resistance to existing antibiotics, which each year leads to 35,000 deaths in the European Union.

Because antibiotics are meant to be taken in moderate, defined doses they are less lucrative to pharmaceutical companies than blockbuster drugs.

- Voucher system -

To address that problem, the commission is looking at introducing transferable vouchers that would allow a company coming up with a new, effective antibiotic to apply a lengthened period of exclusivity to another more profitable drug, or to sell that right to another company.

Around half the EU member states, including France, Belgium and the Netherlands, are wary of that idea though, worried it would weigh on national health systems.

The European Consumer Organisation has also come out against that proposal.

"But so far, no one has proposed a better system," said one EU lawmaker, Peter Liese, who is also a medical doctor.

He said that virtually no new antibiotic had been produced in 20 years. On this issue and the others the commission is proposing, "innovation-friendly regulation is indispensable," he said.

The commission also wants a faster approval process to get new drugs to market faster, as happened with Covid vaccines.

And it is suggesting a measure to force companies to be more transparent about the stocks of drugs they have, so that any looming shortfalls can be tackled earlier on.

For Pauline Londeix, co-founder of OTMeds, a French group monitoring levels of transparency on drugs policies, "a centralised system of alerts on shortages goes in the right direction but is not enough in itself".

She argues that the EU should consider "coordinated action at the European level for the part-public production of essential medicines".

O.Tse--ThChM