GBMA welcomes new member at a pivotal time in medicine policy

At a pivotal time in medicine policy development and budget challenges, a global innovative speciality pharmaceutical company has joined Australia’s peak body for affordable medicines.

Generic and Biosimilar Medicines Association (GBMA) today welcomed Gedeon Richter Australia Pty Ltd (Gedeon Richter) as its newest Tier 3, Biosimilar member.

Gedeon Richter is a prominent European Pharmaceutical company based in Hungary, which aims to offer high added value products with a strategy firmly grounded in original research, women’s healthcare and biosimilars.

GBMA’s Chief Executive Officer, Ms Marnie Peterson, said Gedeon Richter joined the organisation at a critical time with the GBMA’s five-year, high-impact Strategic Agreement being rolled out to mitigate against medicine shortages as Australia continues to recover from the devastating global pandemic.

GBMA’s Independent Chair, Professor Jane Halton AO PSM, the Board and members all welcome Gedeon Richter to the shared mission of ensuring Australian patients had equitable and secured access to safe and affordable medicines regardless of where they lived or their socio-economic background.

The General Manager ANZ of Gedeon Richter, Ms Nicole Burns, said her company was determined to deliver medicines and products that were tailored to the needs of Australian women. The company is one of very few in the world to offer a comprehensive portfolio of products for gynaecological conditions.

“We are very excited to join GBMA as we look to expand into the Australian market, with our mix of affordable generic and biosimilar medicines and innovative research-driven treatments and products, especially aimed at delivering great health and wellbeing outcomes for women, in particular.”

Together with its newest member, Ms Peterson said the GBMA is laser-focused on ensuring patients and taxpayers alike, reap the benefits of driving more biosimilar medicines onto the Pharmaceutical Benefits Scheme PBS), unlocking considerable savings in the process, with GBMA members representing more than 70% of products on the PBS but a third of the cost.

“We know our policies are firmly aligned with the Albanese Government’s agenda to return to a viable health budget and a sustainable Pharmaceutical Benefits Scheme (PBS).

“At a time when Australians are reeling from cost-of-living increases, our shared focus in 2022/23 will be to work closely with the Government to better leverage the role of biosimilar medicines to create that much-needed fiscal relief in the budget and at the hip pocket.,” Ms Peterson said. ENDS