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Biosimilar & Generics
Generic drugs and biosimilars have enabled in the last two decades to save billions of Euros in the European Union.
After the expiry of the patent of brand-name drugs, pharmaceutical companies can produce and commercialise generic drugs at a lower price with the same active ingredient. Healthcare systems in Europe have encouraged doctors and pharmacists to make generic drugs more available.
Biosimilars have also started to be put on the market. In contrast to generic drugs, biosimilars do not however reproduce brand-name drugs identically and are therefore subjected to a more complex authorisation procedure, usually at EU-level.
Because biopharmaceuticals cannot be exactly copied, biosimilars with similar properties offer a cheaper alternative.
COSTEFF is determined to ensure that the European Union creates the right framework to make the most of the cost efficiency potential provided by generics and biosimilars. Healthcare systems would then be able to increase their investments in medical research.