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Fresh Australian Industry Pact Will Insure Against Shortages

New Five-Year Strategic Agreement Signed Between Government And GBMA

 
• By Dave Wallace

A fresh five-year strategic agreement struck between Australian off-patent industry association the GBMA and the country’s government offers sustainability and stability for Australia’s generics sector, with the body committing to holding safety stocks of certain drugs within the country to protect against potential shortages in the context of the COVID-19 pandemic.

Australia handshake flag agreement deal
The GBMA has struck a fresh deal with the Australian government • Source: Alamy

A new five-year strategic agreement running from mid-2022 to 2027 has been finalized between Australia’s government and the country’s Generic and Biosimilar Medicines Association, offering “improved stability, predictability and viability” according to health minister Greg Hunt.

Negotiations began almost a year ago on a fresh agreement that the GBMA said would offer “long-term certainty for the...

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