300 Billion Peseta Generics Market In Spain By 2000?

3 March 1997

Spain's Minister of Health, Jose Manuel Romay Beccaria, said last monththat generic drug consumption is expected to amount to some 300 billion pesetas ($2.1 billion) in three-four years (see also Marketletter February 24). Mr Romay also gave an assurance that these medicines would be 25% cheaper than the original product, reports the Spanish daily newspaper, Cinco Dias.

The Ministry has promulgated information on the procedure for generic drug applications and the conditions that must be met to gain product approval.

According to the director general of pharmacy and pharmaceutical products in Spain, Ana Maria Naveira, there are many potential generic products, even though only 70 have economic importance with sales over 1 billion pesetas.

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