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International Trade Groups Call For Regulators To Protect Off-Patent Industry From Inflation

Generics Players Could Benefit From Greater Control Over Their Prices In 2023

 
• By Chloe Kent

Rising inflation has exacerbated pressures in the off-patent drug sector, prompting Medicines for Europe and the US Association for Accessible Medicines to call for regulatory intervention to ensure the long-term sustainability of the space.

Fifty euro banknotes dissolving in the hand of a man on a purple background
Worldwide inflation has had a significant impact on the off-patent drug sector. • Source: 1200

Off-patent drug sector stakeholders have expressed concerns about the impact of rising inflation on the generic and biosimilar industries going forward into 2023, with some calling for interventions from national authorities to preserve the stability of the space.

Of 29 countries with comparable inflation figures selected by the UK Office of National Statistics – including 26 of the 38 Organisation for Economic Co-operation and Development (OECD) countries as well as India, Indonesia and South Africa – 79% had an inflation rate above 6% as of September 2022

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