Fresh Australian Industry Pact Will Insure Against Shortages
New Five-Year Strategic Agreement Signed Between Government And GBMA
A fresh five-year strategic agreement struck between Australian off-patent industry association the GBMA and the country’s government offers sustainability and stability for Australia’s generics sector, with the body committing to holding safety stocks of certain drugs within the country to protect against potential shortages in the context of the COVID-19 pandemic.
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Hot on the heels of Australia’s plan to overhaul the National Medicines Policy comes a new deal with the pharmaceutical industry to make new drugs available as soon as possible after approval and get patients more closely involved in reimbursement processes.
Australian off-patent industry association the GBMA says it has begun negotiations on a new strategic agreement with the government that will offer “long-term certainty” for the sector. Meanwhile, the industry body has praised the latest “pandemic budget” measures to address the impact of COVID-19.
Australia’s competition authority has extended the arrangements allowing local off-patent industry body the GBMA to closely collaborate with brand organization Medicines Australia to co-ordinate supply against the backdrop of the ongoing COVID-19 pandemic.