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Generic medicines make up nearly 50% of all medicines dispensed in the EU, and account for 18% of pharmaceutical spending.
Generic medicines save EU patients and healthcare systems €25 billion every year.
There are more than 700 generic companies in Europe employing 130,000 staff.
The European generic medicines industry makes a major contribution to European healthcare by providing cost-effective treatment for many of today’s most common illnesses and conditions, such as cancer, diabetes, depression and high blood pressure.
Providing sustainable treatment for these illnesses, which are particularly prevalent in older patients, is becoming increasingly difficult as Europe’s population ages.
In fact, the rapidly ageing population in Europe, the increase in the prevalence of certain diseases and the rise in prices for originator pharmaceuticals are creating a critical need for more generic medicines.