Budget’s €30m for new medicines will help to give patients access to innovation pipeline
Budget’s €30m for new medicines will help to give patients access to innovation pipeline
Originator industry expects to launch almost 40 new, innovative medicines next year that could benefit 17,500 patients
The Government’s allocation of €30 million for new medicines in Budget 2022 will help to give more patients access to new treatments in the innovation pipeline, according to the Irish Pharmaceutical Healthcare Association (IPHA), the representative organisation for the originator biopharmaceutical industry.
Next year, IPHA member companies expect to launch almost 40 new medicines for a range of medical conditions, including arthritis, multiple sclerosis, Parkinson’s disease, gastrointestinal diseases and many forms of cancer. These medicines would treat some 17,500 patients.
In his Budget speech, the Minister for Public Expenditure and Reform, Michael McGrath TD, allocated €30 million for “new drugs to ensure our citizens have access to the best high-tech drugs available globally”.
The move in Budget 2022 builds on a €50 million allocation for new medicines in last year’s Budget, showing the Government’s commitment to integrating innovation into the care pathway.
IPHA welcomed today’s announcement by the Government.
“Our goal is to move towards a situation where we have a continuous, steady flow of new medicines to the health system,” said Oliver O’Connor, Chief Executive of IPHA. “Today’s announcement means more medicines that satisfy the HSE’s clinical and other tests can be funded. That creates the headroom for higher standards of care, allowing doctors to broaden the range of treatments for patients. The medicines the originator biopharmaceutical industry brings forward are the product of years of research and development. The Government has signalled that it values this innovation and believes in the often transformational impact it can have on patients’ lives.
“As we work with the State towards a new medicines supply Agreement, this announcement is a significant step on that journey. We believe investment in medicines is an investment in our futures. We want the adoption of new medicines to complement our high-performing biopharmaceutical manufacturing industry. This Government deserves great credit for backing innovation. While we have much ground to make up to make Ireland as fast as other western European countries in making new medicines available to patients, this funding enables significant progress. Through a new medicines supply Agreement, we can take that effort forward,” said Mr O’Connor.
See ipha.ie and our social channels for the latest on recent campaigns like #InvestInOurFutures and #InnovateForLife.
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