The Spanish Generic Market: Opportunities and Challenges

Abstract

A decade after generic medicines were first introduced in Spain there are now 187 active ingredients in the market and the government has approved 5.105 generic medicines. The sector enjoyed continued growth until 2008, when it slowed down (growth was only 2.4 per cent). The market share of generics is low compared to most European countries — 14 per cent by volume and 6.5 per cent by value whereas in northern European countries generics account for between 35 and 45 per cent of the market or more, but new government policies may help to stimulate generic utilization. On balance these first 10 years have been very positive but generics face various challenges, including the methods used to calculate price reductions in the current Reference Pricing System, the changes introduced to the prescription system by active ingredient and court challenges on certain expiring pharmaceutical product patents.