By using the members area you have already agreed to share your personal information with the BGMA/BBA so that you can access the members materials. We will store your details only as long as you are a member. Your personal information will not be shared any affiliated companies or third parties. For more information about our Privacy Policy, click here.
Mark Samuels, chief executive of the British Generic Manufacturers Association (BGMA), said:
“The Government and the NHS have a critical opportunity within their grasp to widen patient access to treatments in the next five years while also saving money.
“Currently, the NHS saves £18bn each year as a result of generic and biosimilar competition, which equates to 11% of its entire budget. This is because four out of five prescription medicines are affordable, off-patent treatments covering the vast majority of conditions - with affordable prices thanks to competition.
“Over the next five years, a further 250 medicines will lose their sole supplier patent protection, allowing generic and biosimilar competition to enter the market. New government policies could capitalise on this situation to save an extra £3bn a year on average - a saving that could be spent on widened access or other healthcare priorities.
“However, this additional annual £3bn saving will not be realised without government policy to enable it. For example, we must improve the speed with which we license off-patent medicines so that the market is as competitive as possible.
“We strongly recommend that the Government analyses the NHS savings and the rate of switching for the top 20 medicines that have the greatest potential to save money when they lose their market exclusivity. This will ensure savings are optimised so that more patients can access the treatments they need.”