EU Preps for Drug Law Overhaul

The EU is preparing legislation that would overhaul the pharmaceutical industry with a series of reforms targeting drug prices, transparency, and intellectual property (IP). Under the legislation, drugmakers would have a reduced exclusivity period for new drugs, which can be ameliorated by launching a drug in all member states simultaneously. In addition, the laws would simplify the regulatory approval process.

According to the Reuters, “Several proposals aim to streamline the European Medicines (EMA), reducing the number of scientific committees and cutting the time the regulator takes to review new medicines. The review period is on average nearly double that of US authorities.”

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(Source: Times of India, April 13^th, 2023)