EU to shorten the duration of some medicines patents
Pharmaceutical companies are on a war footing as the Commission proposes to shorten the duration of patents for some medicines so that new companies can enter the pharmaceutical market, to address the growing shortage of medicines, insufficient research on new antimicrobial and to lower selling prices of pharmaceutical products. In addition, the Commission justifies the new legislative proposals by saying that, unlike in U.S., when European citizens move to the continent, they do not always find the same prescribed medicines at home. Not to mention the shortage of medicines for rare diseases. But the decision to use the ax against pharmaceutical companies could be detrimental also to smaller ones, not being able to compete with the Big Pharma.
Brussels, 2 May 2023
On 26 April 2023, the Commission has proposed a new legislation to improve the regulation of medicines in the EU. This is in the framework of the new european Pharmaceutical Strategy, that it should enhance the availability and affordability of medicines while promoting innovation and sustainability in the industry. But on patents it could cause a serious earthquake in an economic sector that, despite the huge profits of some pharmaceutical companies for the production of Covid19 vaccines, is already suffering.