Towards a bilateral agreement for the formulation of pharmaceutical policy on a new basis

At the initiative of the PhARMA Innovation Forum Greece (PIF), an important discussion took place at the Delphi Economic Forum on Health and Pharmaceutical policy, highlighting the need for a strategic shift in domestic pharmaceutical policy. The panel, which included important pharmaceutical industry players and government officials, highlighted innovative examples from other European Union countries that have successfully implemented bilateral agreements between the state and industry. These agreements are a road map that leads to a predictable and sustainable business environment for the health system, providing a strong model for our country to emulate.

The strategic shift towards a new policy

The urgency of such a shift stems from a protracted crisis in the pharmaceutical sector, which has exposed problems such as insufficient access to innovative treatments and a fragmented approach to health care financing. As we consistently advocate through the PhARMA Innovation Forum Greece, the path to recovery and sustainability lies in a deeper collaboration between the public and private sectors. The recent discussions between the CEOs of the international pharmaceutical industry and Prime Minister Kyriakos Mitsotakis echo this belief, while highlighting the possibility of synergies that ultimately promote a more resilient and naturally accessible National Health System for all.

Central to the proposed strategic change is the adoption of a new pharmaceutical policy aligned with the principles of equity and universal access. This policy must overcome today’s distortions, ensuring that all citizens in the future, regardless of their economic situation, can access life-saving medicines. To achieve this, policy decisions will need to be based on real and reliable evidence, making use of the vast amounts of health data that are currently isolated in various public sector entities. This data-driven approach ultimately enhances transparency and fairness while streamlining processes to improve patient outcomes.

The importance of investing in innovation

There is an absolute need for additional funding to bring our country into line with its European partners who share similar characteristics and experience similar healthcare challenges. Increasing pharmaceutical spending is now a crucial issue to facilitate the integration of innovative treatments into the NHS, which has been weakened by the financial constraints of the previous period. Greece can and should be an equal member of the EU in the field of pharmaceutical policy as well. It owes it to the patients, it owes it to its citizens.

An important aspect of the new pharmaceutical policy in relation to funding involves exploring alternative funding mechanisms for early access to new innovative treatments. It is clear that additional funding is needed to establish a new Innovation Fund which could operate under specific conditions and safeguards in order to facilitate early access to innovative treatments that until now have been done in an unorthodox way but also to have a compensation framework that will not strangles business as it is today. This would ensure that patients in dire need can benefit from new innovative treatments, thus bridging the gap between innovation and patient care.

Supporting innovation means protecting patients

Similar demands are made by patient organizations, which have repeatedly expressed their concerns, essentially saying that not enough is being done to protect access to innovative treatments. Their positioning is valuable as it represents the ultimate recipients of any health care policy – the patients. The concerns raised by these associations highlight a critical gap in the current system and highlight the need for a patient-centered approach in the new policy framework. We accompany, support patients by enhancing innovation.

New policy means European policy

Lessons learned from other EU countries provide a clear road map for improvement. A number of countries have proven that when government and the private sector share a common vision and a great deal of responsibility, they can overcome significant challenges. As an innovative pharmaceutical company, in partnership with the state, we have the opportunity to implement a roadmap that not only addresses the immediate crisis, but also lays the foundation for a long-term, sustainable healthcare environment for all.

Innovation at the service of society

In conclusion, the strategic shift in Greece’s new pharmaceutical policy is not just a necessity, but an opportunity to redefine the healthcare landscape. At the Pharma Innovation Forum we have adopted a collaborative approach, leveraging data to inform policy, ensuring adequate funding and prioritizing patient access to innovative treatments. Our country has proven that it can stand up by successfully emerging from the financial crisis and now is the time to ensure a healthier future for its citizens. This holistic approach will not only resolve current issues, but also position Greece as a leader in healthcare and patient care innovation in the European Union. It is the duty of all of us to succeed.