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Published on: December 11, 2016
Generic medicine pricing in Europe: current issues and future perspective
Journal of Medical Economics
|May 20, 2009
Summary
European generic medicine pricing is influenced by international competition and country-specific variations. Implementing demand-side policies can enhance price competition and potentially lower generic drug costs.
Area of Science:
- Health Economics
- Pharmaceutical Policy
Background:
- Examines trends impacting generic medicine pricing across Europe.
- Highlights competition from Indian manufacturers and significant price variations between European nations.
Discussion:
- Analyzes how generic manufacturers utilize discounts over direct price competition in France, The Netherlands, and the UK.
- Discusses the role of reference pricing systems and market incentives in fostering price competition.
Key Insights:
- Suggests potential for further price reductions in several European countries.
- Emphasizes that effective reference pricing requires demand-side policies to encourage generic medicine uptake by healthcare professionals and patients.
Outlook:
- Recommends caution when analyzing generic medicine pricing drivers due to inter- and intra-country variability.
- Notes that both originator and generic manufacturers employ diverse pricing strategies post-patent expiry, varying by drug molecule.
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