The Fort Worth Press - EU to unveil reforms for cheaper drugs

USD -
AED 3.672504
AFN 66.265317
ALL 82.40468
AMD 381.537936
ANG 1.790403
AOA 917.000367
ARS 1449.250402
AUD 1.508523
AWG 1.8025
AZN 1.70397
BAM 1.670125
BBD 2.014261
BDT 122.309039
BGN 1.670704
BHD 0.377951
BIF 2957.004398
BMD 1
BND 1.292857
BOB 6.910892
BRL 5.541304
BSD 1.000043
BTN 89.607617
BWP 14.066863
BYN 2.939243
BYR 19600
BZD 2.011357
CAD 1.37965
CDF 2558.50392
CHF 0.79556
CLF 0.023213
CLP 910.640396
CNY 7.04095
CNH 7.033604
COP 3808
CRC 499.466291
CUC 1
CUP 26.5
CVE 94.159088
CZK 20.779904
DJF 178.088041
DKK 6.380104
DOP 62.644635
DZD 130.069596
EGP 47.704197
ERN 15
ETB 155.362794
EUR 0.853804
FJD 2.283704
FKP 0.746974
GBP 0.747496
GEL 2.68504
GGP 0.746974
GHS 11.486273
GIP 0.746974
GMD 73.000355
GNF 8741.72751
GTQ 7.663208
GYD 209.231032
HKD 7.78155
HNL 26.346441
HRK 6.434404
HTG 131.121643
HUF 330.190388
IDR 16697
ILS 3.20705
IMP 0.746974
INR 89.57735
IQD 1310.106315
IRR 42100.000352
ISK 125.630386
JEP 0.746974
JMD 160.018787
JOD 0.70904
JPY 157.75804
KES 128.909953
KGS 87.450384
KHR 4013.492165
KMF 420.00035
KPW 899.985447
KRW 1475.760383
KWD 0.30723
KYD 0.83344
KZT 517.535545
LAK 21660.048674
LBP 89556.722599
LKR 309.636651
LRD 177.012083
LSL 16.776824
LTL 2.95274
LVL 0.60489
LYD 5.420776
MAD 9.166901
MDL 16.930959
MGA 4548.055164
MKD 52.559669
MMK 2099.831872
MNT 3551.409668
MOP 8.015542
MRU 40.023056
MUR 46.150378
MVR 15.450378
MWK 1734.170189
MXN 18.033704
MYR 4.077039
MZN 63.903729
NAD 16.776824
NGN 1460.160377
NIO 36.804577
NOK 10.138704
NPR 143.372187
NZD 1.737016
OMR 0.385423
PAB 1.000043
PEN 3.367832
PGK 4.254302
PHP 58.571038
PKR 280.195978
PLN 3.59225
PYG 6709.363392
QAR 3.641038
RON 4.335404
RSD 100.004038
RUB 80.695957
RWF 1456.129115
SAR 3.750651
SBD 8.146749
SCR 15.161607
SDG 601.503676
SEK 9.268304
SGD 1.293304
SHP 0.750259
SLE 24.050371
SLL 20969.503664
SOS 570.513642
SRD 38.441504
STD 20697.981008
STN 20.921395
SVC 8.750267
SYP 11057.107339
SZL 16.774689
THB 31.425038
TJS 9.215661
TMT 3.5
TND 2.927287
TOP 2.40776
TRY 42.746504
TTD 6.787925
TWD 31.518904
TZS 2495.196618
UAH 42.285385
UGX 3577.131634
UYU 39.263908
UZS 12022.543871
VES 282.15965
VND 26312.5
VUV 121.400054
WST 2.789362
XAF 560.144315
XAG 0.014892
XAU 0.000231
XCD 2.70255
XCG 1.8024
XDR 0.69664
XOF 560.144315
XPF 101.840229
YER 238.403589
ZAR 16.77901
ZMK 9001.203584
ZMW 22.626703
ZWL 321.999592
  • RBGPF

    0.0000

    80.22

    0%

  • SCS

    0.0200

    16.14

    +0.12%

  • CMSC

    -0.1200

    23.17

    -0.52%

  • AZN

    0.7500

    91.36

    +0.82%

  • CMSD

    -0.0300

    23.25

    -0.13%

  • NGG

    -0.2800

    76.11

    -0.37%

  • BCE

    -0.0100

    22.84

    -0.04%

  • GSK

    0.3200

    48.61

    +0.66%

  • RELX

    0.0800

    40.73

    +0.2%

  • RIO

    0.6900

    78.32

    +0.88%

  • BTI

    -0.5900

    56.45

    -1.05%

  • BP

    0.6300

    33.94

    +1.86%

  • VOD

    0.0400

    12.84

    +0.31%

  • RYCEF

    0.2800

    15.68

    +1.79%

  • BCC

    -2.9300

    74.77

    -3.92%

  • JRI

    -0.0500

    13.38

    -0.37%

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".

C.Rojas--TFWP