EC Proposes Streamlining Pricing, Reimbursement Decisions
The European Commission (EC) wants drugs to reach the market faster and is proposing changes to the pricing and reimbursement process.
In a report by PMLive Intelligence Online, revisions to the Transparency Directive for set a 120-day limit for national regulators on innovative medicines and a 30-day limit for generics. Currently, countries have up to 180 days to decide if a drug can be marketed, but some have stretched to 700 days for innovative medicines approval.
The EC proposes forcing counties to take action against the agencies responsible for missing the new time limits, including awarding damages to the company trying to market the product.
The European Federation of Pharmaceutical Industries and Associations applauded the efforts, but suggested further measure could be necessary.
Read more:
PMLive Intelligence Online - EC proposes streamlining national pricing and reimbursement decisions