Press release – EAEPC becomes Affordable Medicines Europe
Today the European Association of Euro-Pharmaceutical Companies, EAEPC, has changed its name to Affordable Medicines Europe. This happened at an event in Brussels where new studies on the cost-savings generated by parallel imports for 2018 in Poland, Germany, Sweden and Denmark were presented. In total, savings for the healthcare systems and patients in the four countries amounted to €3.2 billion that year, helping to make medicines more affordable.
A name that reflects the raison d’être of the industry
Every day, parallel distributors identify price differences of medicines across European borders, and thanks to the EU Single Market, they can transfer those lower prices from one Member States to another. By introducing competition with lower priced medicines, the industry challenges pharmaceutical manufacturers’ possibilities to extract the maximum price in every country – especially on patented medicines.
“Our new name reflects better our industry’s raison d’être; to make medicines more affordable for EU healthcare systems and patients. For the patient we effectively fight fragmentation of medicines in a safe and regulated framework”, said Affordable Medicines Europe’s President, Jörg Geller.
Significant cost-savings for EU healthcare systems
Affordable Medicines Europe published a report, that gathers the results of a number of new studies analysing the savings created in Poland, Germany, Sweden and Denmark in 2018; savings of €124 million, €2.8 billion, €235 million, and €82 million respectively. In total €3.2 billion.
“These new studies confirm what has been reiterated by healthcare payers for decades; parallel imports are vital in keeping medicines affordable. This is not only the case in western EU countries, but also in markets like Poland where parallel imports are growing fast”, continued Jörg Geller.
“Affordability is on top of the political health agenda, and with €3.2 billion savings for four countries in 2018 alone, our industry is evidently the most effective tool available to policymakers today”; concluded Jörg Geller.
Alleviating shortages adds to the benefits
Currently the EU is facing serious shortages, and the problem has been exacerbated over the last few years. While shortages are predominantly caused by supply issues and restrictions from manufacturers, parallel distribution contributes to solving shortages.
“In the last year, we have alleviated shortages from Denmark to Spain, from the UK to Bulgaria. While long-term solutions must be found to the supply issues and restrictions politically, we continue to serve patients on a daily basis”, ended Jörg Geller.