The Japan Times - EU to unveil reforms for cheaper drugs

EUR -
AED 4.298186
AFN 72.56231
ALL 95.475153
AMD 431.487709
ANG 2.095501
AOA 1074.39962
ARS 1629.148665
AUD 1.616199
AWG 2.10813
AZN 1.992322
BAM 1.955316
BBD 2.357707
BDT 143.693833
BGN 1.954425
BHD 0.441481
BIF 3485.122802
BMD 1.17037
BND 1.490499
BOB 8.088895
BRL 5.85478
BSD 1.170605
BTN 112.162852
BWP 16.487709
BYN 3.270407
BYR 22939.260239
BZD 2.354257
CAD 1.606
CDF 2622.800067
CHF 0.915019
CLF 0.026412
CLP 1039.488204
CNY 7.947927
CNH 7.938096
COP 4439.413967
CRC 531.947929
CUC 1.17037
CUP 31.014816
CVE 110.231604
CZK 24.299816
DJF 208.447534
DKK 7.472651
DOP 69.382833
DZD 155.099369
EGP 61.915521
ERN 17.555556
ETB 182.768789
FJD 2.559949
FKP 0.865712
GBP 0.86622
GEL 3.136335
GGP 0.865712
GHS 13.291541
GIP 0.865712
GMD 85.436664
GNF 10264.197273
GTQ 8.93079
GYD 244.896268
HKD 9.167611
HNL 31.131297
HRK 7.530981
HTG 153.286179
HUF 357.408022
IDR 20520.10458
ILS 3.399657
IMP 0.865712
INR 112.033299
IQD 1533.420592
IRR 1536696.361864
ISK 143.603407
JEP 0.865712
JMD 185.084205
JOD 0.829756
JPY 184.856476
KES 151.34049
KGS 102.348601
KHR 4696.878004
KMF 492.726365
KPW 1053.29904
KRW 1745.794831
KWD 0.360744
KYD 0.975554
KZT 554.110532
LAK 25659.103183
LBP 104824.620223
LKR 380.745794
LRD 214.216082
LSL 19.215546
LTL 3.455799
LVL 0.707945
LYD 7.430162
MAD 10.739567
MDL 20.121763
MGA 4902.682226
MKD 61.646339
MMK 2457.619954
MNT 4190.078508
MOP 9.444142
MRU 46.777426
MUR 54.852363
MVR 18.035696
MWK 2029.389207
MXN 20.12837
MYR 4.60131
MZN 74.788444
NAD 19.215546
NGN 1604.367492
NIO 43.079157
NOK 10.796106
NPR 179.456165
NZD 1.973291
OMR 0.44999
PAB 1.170585
PEN 4.001093
PGK 5.099608
PHP 72.00762
PKR 326.03733
PLN 4.237619
PYG 7133.235055
QAR 4.267035
RON 5.20582
RSD 117.383498
RUB 85.597266
RWF 1712.154425
SAR 4.399509
SBD 9.400717
SCR 16.09235
SDG 702.80427
SEK 10.914699
SGD 1.490303
SHP 0.8738
SLE 28.792583
SLL 24542.084994
SOS 669.003033
SRD 43.530755
STD 24224.304733
STN 24.493835
SVC 10.242203
SYP 129.35956
SZL 19.201167
THB 37.816422
TJS 10.938953
TMT 4.108
TND 3.410656
TOP 2.817971
TRY 53.175488
TTD 7.94783
TWD 36.895939
TZS 3044.602517
UAH 51.45911
UGX 4377.804603
USD 1.17037
UYU 46.617271
UZS 14035.167578
VES 594.623861
VND 30833.408725
VUV 138.194599
WST 3.169973
XAF 655.780735
XAG 0.013474
XAU 0.000249
XCD 3.162984
XCG 2.109669
XDR 0.813371
XOF 655.777934
XPF 119.331742
YER 279.279602
ZAR 19.201272
ZMK 10534.734585
ZMW 22.035512
ZWL 376.858798
  • RYCEF

    -0.1700

    16.03

    -1.06%

  • VOD

    0.0950

    15.605

    +0.61%

  • RELX

    0.1750

    31.795

    +0.55%

  • BTI

    0.9300

    66.28

    +1.4%

  • GSK

    0.1200

    51.13

    +0.23%

  • NGG

    0.6700

    87.65

    +0.76%

  • CMSC

    0.1498

    23.2

    +0.65%

  • CMSD

    0.0100

    23.57

    +0.04%

  • RIO

    -2.3950

    109.645

    -2.18%

  • BCE

    0.1150

    24.505

    +0.47%

  • AZN

    -2.3800

    185.34

    -1.28%

  • BP

    0.1650

    44.305

    +0.37%

  • BCC

    0.9000

    67.88

    +1.33%

  • JRI

    -0.0050

    13.125

    -0.04%

  • RBGPF

    -0.2100

    60.79

    -0.35%

EU to unveil reforms for cheaper drugs
EU to unveil reforms for cheaper drugs / Photo: Louisa GOULIAMAKI - 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".

Y.Mori--JT