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Medicines For Europe Urges Intervention In Inflation Crisis

Industry Conditions Have Exacerbated Impact Of Ukraine War And COVID-19

 
• By Chloe Kent

Medicines for Europe has called for alterations to regulations concerning the off-patent drug sector, which it says will allow the industry to respond more effectively to the region’s dramatic rise in inflation.

Euro on fire against backdrop of EU flag
Inflation in Europe has reached 7% • Source: Shutterstock

Generic drugs trade association Medicines for Europe has urged EU health ministers to take action to address the impact of inflation on the supply of essential medicines, maintaining that the “industry cannot operate in an environment combining rampant cost inflation with policies that continuously lower prices” in an open letter.

“For the last decade, off-patent medicines have been subject to strict price regulation, budget austerity measures, and lowest-price tender rules, causing substantial price erosion and an

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