Inflation: How can it affect supply of medicines? Part II

Multiple factors, such as a growing and ageing population, the introduction and increased cost of new innovative medicines and the greater chronic disease burden, have put pressure on healthcare budgets across Europe. Therefore, almost all European countries apply strict price regulations to off-patent medicines, with the primary goal of minimising healthcare expenditure. Strict rules for generic medicines to persistently decrease prices irrespective of market conditions have been the prime driver of European market and industrial consolidation. This has been exacerbated by the COVID-19 crisis and the war in Ukraine, which have dramatically increased general inflation, as well as the cost of goods. Consequently, the security of the medicine supply for patients is at risk. This shows the need for a shift in pricing policies to ensure healthy market competition and prevent the undesired effects of existing pricing mechanisms, allowing patients to continue to have access to a broad range of therapeutic options as well as guaranteeing that generic competition remains healthy in the long term. In this part of the episode, we will explore new pricing policy models that may provide an adequate response to delivering a sustainable supply of medicines to patients considering the current circumstances (COVID-19 recovery, inflation, increasing cost of goods). Episode host: · Adrian van den Hoven - Director General, Medicines for Europe Expert speakers: · Victor Mendonca - Chair of the Generic Market Access Committee, Medicines for Europe and Head of Corporate Affairs Europe, Viatris · Clement François - Partner, Putnam PHMR

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