One of the challenges posed to regulators will be the naming requirements for biosimilars. In order for physicians to select the most appropriate biosimilar medicinal product and also for pharmacovigilance purposes, the question has been asked as to what proprietary and/or non-proprietary name should be permitted for use on biosimilar products.
The global financial crisis that started in 2007 left many countries struggling financially, and the aftershocks are still being felt across many economies around the world. This had a clear impact on the Pharmaceutical Industry, with many global forerunners applying a strategy of budget cuts and job losses across the industry. Despite this challenging environment, there still existed opportunities for companies to prosper. One sector in particular saw growth – generic medicines.
Generic medicines offer safe and effective healthcare to patients at a reduced cost. However, the market share of generics varies wildly across Europe as well as globally.
Looking back to 2006, generic market share in Europe varied from 5% by volume in Greece to over 75% by volume in Poland. Recent data however, shows a marked movement towards generic medicines in many markets. For instance, 2010 data shows generics had an increased market share of more than 38% in Greece[i].