Press Release: April 21, 2017
“Pharmaceutical companies all across the world are making efforts to improve the accessibility of cancer generic drugs for developing countries” says RNCOS
Large pharmaceutical companies need to take some initiatives for improving the accessibility of generic drugs in developing countries. Recently, in 2016, this effort has been put on by a pharmaceutical giant GSK. GSK is planning to provide poor countries a faster access to its cancer drugs. In this regard, GSK announced in March 2016, that it intends to sign agreements about drugs in its cancer portfolio with the Medicines Patent Pool. This is an organization backed in UN and established in 2010 that helps generic manufacturers license and produce products.
GSK is also planning to take a more sequential approach to filing and enforcing patents for other medicines. This will encourage generic drug companies to make and supply GSK products, now available mainly in developed countries. GSK also created a database that included the results of all its clinical trials, regardless of whether the medicines worked or failed. Pharmaceutical firm, GlaxoSmithKline has also mentioned in March 2016, that it wants to make it easier for manufacturers in the world's poorest countries to copy its medicines. GSK hopes that by removing any fear of filing its drugs for patent protection in developing countries will allow independent companies to make and sell versions of its drugs in those areas, thereby widening the public access to them. GSK will grant licenses to generic manufacturers to make and supply versions of GSK medicines.
According to the report by RNCOS, named, “Global Cancer Generics Market Forecast to 2022”, the impact of this move on the treatment of cancer and other diseases in each individual country will depend on whether there is a local sufficient healthcare infrastructure that will allow the secured use of powerful new drugs in an appropriate group of patients. Many low income countries are not required to follow regulations regarding patent protections, which enable domestic generic drug makers to manufacture drugs at lower prices. With the introduction of these pharmaceutical plans, pharmaceutical companies have gone a step further in the fight for global healthcare accessibility.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.
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