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EU Plans to Free Up Drug MarketBy: Unknown Erkki Liikanen said the system had to change if Europe was not to lose out to US competition. "[It is] a major step toward achieving a more innovative and competitive industry in Europe for the more profitable United States," he said. But the UK Consumers' Association said it was concerned about plans to ease the ban on advertising prescription drugs. Time halved The proposals would halve the time it takes for new medicines to be approved, from the current 18 months to around nine months. In the United States the average
review time for new drugs is 14.6 months.
The commission says that the current regulations are not rapid and
flexible enough and are affecting the European pharmaceuticals industry.
"In case of innovative products, slow development in the procedure
might neutralise the beneficial effects that the placing on the market of
innovative products might have on society," a statement from the
commission said.
Marketing
The commissioner has also promised more access to information on drugs,
proposing a five-year pilot project to provide people suffering from
diabetes, Aids and asthma with information on authorised drugs. The European Commission is concerned
that information currently available on prescription drugs is inaccurate.
Officials say one of the problems is the confusion caused by US-based
web sites, which advertise drugs with the same names as those available in
Europe, but with different chemical ingredients.
Supporters of the proposal say that companies will have to comply with
a code of conduct on what information they can offer.
But critics argue that such a scheme will be impossible to regulate,
and could lead to direct advertising of prescription drugs, which is
currently illegal under European law.
"It's the thin end of the wedge for pharmaceutical companies who
have been lobbying for greater freedom to advertise their drugs across the
EU," said Emma Harrison of the UK Consumers' Association. |
