With Its Economy Struggling, Spain Launches Second Cost-Cutting Exercise In Two Years
Spain has become the latest European country to launch a comprehensive pharmaceutical sector reform, seeking to slice off €2.4 billion ($3.4 billion) from its annual drugs budget as part of a desperate attempt to boost its flagging economy.
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EU Transparency Directive Revisions May Accelerate Access To New Medicines, But IP Issues Set To Cause A Storm
Proposed revisions to the EU Transparency Directive could drive faster access to medicines. But innovative product sponsors say IP rules will damage their business.
If 2010 was the year when pharma introduced new models, 2011 was the year it discovered that executing on its plans required a new mindset. There was a realization that pharma input and capital were required at the earliest stages of company creation. Innovation remained the order of the day, though pharma’s attempts to innovate looked strikingly similar to one another. We continued to see risk-sharing deal structures, emphasis on emerging markets, ongoing externalization and the biotech-ification of pharma, and stronger emphasis on “unmet medical need. Pharma also did more to work with VCs, payors, generics companies, and each other. The year saw a recovery in US drug approvals and launches, but the high prices associated with some of those new therapies and austerity in Europe also shed light on the health technology assessment-dominated future that likely faces most markets, including the US.
A new chairman will take the helm of Germany's G-BA panel at a pivotal time for AMNOG implementation; the European Medicines Agency issues guidances in oncology drug development and genotoxicity; more regulatory updates.