Submitted by Viatris
Driving Access with Generic Medicines
Competition from generic and biosimilar medicines is a fundamental component of health systems’ ability to expand and sustain patient access to medicines. Generic medicines generally represent between 60-80% of all medicine sales by volume in key markets globally, but at a significantly lower share of the healthcare spending. Many countries have an even higher proportion of generic medicine use, including the U.S., Australia, India, and Jordan.1 Governments have a key role to play in establishing a well-functioning legal, regulatory and market system that enables generic and biosimilar competition to flourish for the benefit of patient access. Achieving market predictability allows for the manufacturing scale of generic medicines and biosimilars to maintain cost-effective prices that enable expanded access of therapies globally.
The Importance of Generic Medicines for Access and Healthcare Budgets
United States: Annual savings from generics and biosimilars have exceeded USD $373 billion — an increase of about USD $33 billion more than 2020 — and yearly savings have consistently increased by 7-10%.
The U.S. health care system has saved more than USD $2.6 trillion in the last 10 years due to the availability of affordable generics and biosimilars.5
Supporting Meaningful Policies for Access
Around the world, Viatris colleagues work to address access barriers unique to the health systems they know best. By leveraging our local expertise, we can contribute to building policy solutions for long-lasting impact in communities, while also sharing our knowledge and experiences broadly across our global network to help ensure progress is made consistently, regardless of geography.
Shared barriers to sustainable access need shared solutions, which is why we seek to align our global policy strategy to maximize our impact. In 2022, Viatris’ global policy priorities focused on championing policies advancing efficiency
of regulatory systems, creating pro-competitive policy environments and supporting long-term market viability and global supply networks to tackle the root causes of supply disruption.
Viatris seeks to contribute to the creation of sustainable healthcare systems and financing models that focus on improved health outcomes of people and populations in the short- and long-term. Health is an investment, not a cost.
“We seek to understand the challenges faced by people and systems and
to co-create solutions that advance us collectively toward our shared objective of equitable, sustainable access. There are no easy fixes. We are here to do the hard work, to bring forward our expertise as one part of the solution.”
— Erika Satterwhite
Head of Global Policy, Viatris
In 2022, we engaged in policy efforts including:
Advocating for Consistent Global Regulatory Policies
We continue to advocate for policies that better enable people around the world to feel confident that any medicine they need will be quality assured. A fundamental component of health equity globally is that the quality of the healthcare you receive should not be dependent on your geography, income, ethnicity or any other characteristic.
To enable this reality, policies need to support consistent adoption by regulatory authorities of internationally recognized quality standards and adequate investment in enforcement. Greater harmonization in regulatory requirements, sharing of best practices and cooperation between regulatory agencies are all aspects of Viatris’ ongoing work to support consistent quality, regardless of geography or circumstance.
1Global Comparator Product for Biosimilar Development and Waiving of Bridging Studies
2IGBA: Market Penetration of Generic Medicine
4The positive side effects of Japan’s push for generic drugs
52022 AAM Generic Biosimilar Medicines Savings Report
Viatris Inc. (NASDAQ: VTRS) is a global healthcare company empowering people worldwide to live healthier at every stage of life. We provide access to medicines, advance sustainable operations, develop innovative solutions and leverage our collective expertise to connect more people to more products and services through our one-of-a-kind Global Healthcare Gateway®. Formed in November 2020, Viatris brings together scientific, manufacturing and distribution expertise with proven regulatory, medical, and commercial capabilities to deliver high-quality medicines to patients in more than 165 countries and territories. Viatris’ portfolio comprises more than 1,400 approved molecules across a wide range of therapeutic areas, spanning both non-communicable and infectious diseases, including globally recognized brands, complex generic and branded medicines, and a variety of over-the-counter consumer products. With more than 38,000 colleagues globally, Viatris is headquartered in the U.S., with global centers in Pittsburgh, Shanghai and Hyderabad, India. Learn more at viatris.com and investor.viatris.com, and connect with us on Twitter at @ViatrisInc, LinkedIn, Instagram and YouTube.
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