Why are affordable medicines so important for healthcare?
Did you know that affordable (generic) medicines represent the majority of treatments in Europe, accounting for 70% of the treatment volume and 19% of the market value in 2023? They play a crucial role in ensuring patient well-being and public health by providing safe, effective, and affordable treatments. Without the competition created by affordable medicines, European healthcare payers would have had to spend an additional €120 billion in 2023 alone.*
IQVIA summarizes 4 value dimensions of affordable medicines:
Economic Value
- Support predictable and sustainable spending growth for healthcare systems
- Provide reliable future savings for payers
- Reduce co-payments for patients
Access
- Expand access to major chronic therapy areas
- Help to reduce disease burden in underserved markets
Supply Chain
- Mitigate the risk of shortages through multi-source supply
- 9 in 10 critical medicines are affordable medicines
Innovation
- Value added (affordable) medicines offer a range of unique benefits to patients
- Stimulate continued innovation from originators
At Tiefenbacher Group, we are proud to contribute to sustainable healthcare by developing and supplying high-quality affordable, valueadded, and innovative medicines. Our commitment goes beyond cost savings, it’s about making essential medicines accessible to more patients, ensuring treatment continuity, and fostering pharmaceutical innovation to improve patients`lives around the world.
*(Sources: IQVIA Beneath the Surface; OECD – OCDE Indicators Report; The Center for Biosimilars AAM Report; Medicines for Europe)
About Tiefenbacher Group – Pioneering Healthcare since 1963
Tiefenbacher Group is a purpose-driven and 100% family-owned healthcare company providing best-in-class solutions along the entire pharmaceutical value chain. From the initial idea to market access of high-quality medicines around the world: We distribute APIs and develop, produce, and register finished dosage forms (FDFs) including highly potent drugs as well as medical devices and e-health-solutions. Our purpose is to improve people’s lives by making pharmaceuticals more affordable, more available, and better than ever before.
For further information about our solutions for better healthcare and our in-house capabilities to develop and commercialize pharmaceutical products (including highly potent drugs) and e-health-solutions for global markets, please contact us by email at info@tiefenbacher.com or visit us on: www.tiefenbachergroup.com
