The Strategist

Europe comes up with a new strategy to improve medicines market

11/26/2020 - 04:02

The European Commission has developed a "European Pharmaceutical Strategy" aimed at providing the EU market with quality medicines at affordable prices and preventing shortages of medical products, according to EC materials.

"The strategy is based on experience in responding to the COVID-19 pandemic and aims to strengthen and make the pharmaceutical sector more sustainable," the document says.

Specifically, it calls for a more extensive and reliable drug supply network "that would guarantee strategic autonomy for the EU" with openness to the rest of the world. For this purpose, it is proposed, among other things, to create a strategic stock of EU medicines.

According to the authors of the strategy, the EU pharmaceutical sector must first and foremost serve the interests of health in a changing environment, including in the scientific and commercial spheres.

"The pandemic has shown that it is vital for us to strengthen our health systems. This includes ensuring access to quality and effective medicines at affordable prices," said European Commission President Ursula von der Leyen when commenting on the new EU strategy. The European Commission also intends to support innovation in this sector.

Earlier in November, the European Commission announced the launch of the EU Healthcare Union to better respond to crises in this area. According to the project, the relevant EU institutions and agencies should be given greater authority to better protect citizens.