Belgian Body Welcomes Clawback Exemption Amid Price Cuts
Legislation Also Freezes Prices Of Drugs Used To Treat COVID-19
Belgian body Medaxes is content with the latest pharmaceutical pricing legislation in the country, which cuts generics and biosimilars prices but also exempts such drugs from pharmaceutical clawback taxes.
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Increased uptake for generics and biosimilars must become Belgium’s “new normal” in the wake of the coronavirus crisis, local off-patent industry association Medaxes has argued.
Legislation that has just been adopted by the Belgian parliament is aiming to tackle shortages by requiring companies to notify local authorities of supply interruptions within three working days, as well as giving pharmacists the option to substitute equivalent alternatives to products in short supply. The new measures limit the risk of excessive sanctions for suppliers, according to local industry association Medaxes.
China’s Bio-Thera Solutions has ventured outside of its domestic market for the first time by filing an application for a biosimilar version of Avastin with the European Medicines Agency. The company has also revealed its timeline for a submission to the FDA.