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Generic drugs restricting market growth in Netherlands

GlobalData says Government focus on cheap copies is impacting industry

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The growth of the Netherlands' pharmaceutical market is restricted by the Government's focus on generic drugs to reduce costs, according to a report by research and consulting firm GlobalData.

The paper, entitled CountryFocus: Healthcare, Regulatory and Reimbursement Landscape – The Netherlands, states market value will rise slowly from around $6.7bn in 2014 to just $7.2bn by 2020, well below the country's potential, according to GlobalData.

This slow growth is influenced by the introduction of preference policies by health insurers has played a significant role in the increasing share of prescriptions dispensed as generic medicines.

Joshua Owide, GlobalData's director of healthcare industry dynamics, says: "Due to preference policies, health insurers have restricted reimbursement to certain selected groups of medicines.

"Insurers mainly prefer the reimbursement of generic drugs, unless there are financial advantages involved in reimbursing patented medicines. Otherwise, patients are only allowed the reimbursement of non-preferred drugs if there is a medical need, which must be ratified by their physician."

Actavis, Disphar Internation, Mylan, Pharmachemie, Apotex and Sandoz are some of the generic drug makers in the Netherlands whose products made up 63.3% of all prescriptions medicines sold in the country in 2012, according to the Dutch Foundations for Pharmaceutical Statistics.

Owide added: “The Netherlands' generic market has huge potential for development due to the high number of leading drugs going off-patent every year.

"However, the impact of increasing amounts of generic drugs will slow the overall growth of the country's pharmaceutical market.”

Article by
Kirstie Pickering

15th October 2014

From: Sales, Marketing

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