Generic medicines and biosimilars: Impact on global pharmaceutical policy

Abstract

Patient access to safe and cost-effective treatment is an important goal for the healthcare system. The development of biosimilar compounds and generic medicines is interesting to the industry and society to reduce healthcare costs, fulfill the needs of healthcare stakeholders and potentially increase accessibility to patients. Patient and physician acceptance, with many patients preferring biologics and branded products and physicians prescribing the same, limits the use of generic medicine and biosimilars. The growth of these products in part depends on various stakeholders' decisions to provide, pay for or use these products in a safe and thoughtful manner. Ongoing stakeholder collaboration, educational activities and review of current government and payer policies are required to optimize the uptake of generic medicines and biosimilars.