Poor countries desperately need better access to generic medicines
The writer is chief executive of the Access to Medicine Foundation
The Covid-19 pandemic underscored the urgent need for equitable access to medicine. But when it comes to expanding access, the pivotal role of the world’s generic medicine manufacturers often slips under the radar. This is despite the fact that the global market was worth $311.8bn in 2022, and is projected to hit $442.3bn by 2027.
It is often assumed that generic drugs are affordable and widely available to those who need them. But this is not entirely true. For example, even after patent expiries open the door to generic rivals, low levels of competition between companies in smaller markets means that generics can actually be more expensive in poor countries than in wealthy ones.
This story originally appeared on: Financial Times - Author:Jayasree Iyer
