Australia's Competition Regulator Authorizes Another Year Of Close Collaboration
ACCC Extends Permission For GBMA And Medicines Australia To Share Information
Australian off-patent industry association GBMA and brand body Medicines Australia can continue to collaborate closely as part of work to mitigate shortages in the context of the COVID-19 pandemic, the Australian Competition and Consumer Commission has decided, extending an existing authorization by a further year.
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A collaboration between the Australian Generic and Biosimilar Medicines Association and brand industry body Medicines Australia against the backdrop of COVID-19 has been endorsed through a final determination from the country’s competition body that clarifies the conditions of the ongoing arrangement.
A fresh five-year strategic agreement struck between Australian off-patent industry association the GBMA and the country’s government offers sustainability and stability for Australia’s generics sector, with the body committing to holding safety stocks of certain drugs within the country to protect against potential shortages in the context of the COVID-19 pandemic.
Australia’s competition authority has extended the arrangements allowing local off-patent industry body the GBMA to closely collaborate with brand organization Medicines Australia to co-ordinate supply against the backdrop of the ongoing COVID-19 pandemic.