EU needs Israeli medicines: time to trade freely

Why is it that a trade agreement that will facilitate the import of high-quality and affordable medicines into Europe is such a political hot potato? Because the trade agreement is with Israel.

The politicisation of a technical agreement has already caused delays in the provision of life-saving drugs to European patients at lower prices. When the so-called “Protocol on Conformity Assessment and Acceptance of Industrial Products’’, or ACAA, is voted on by all members of the European Parliament next week, it will have taken over two years of negotiations to finalise an already established joint commitment with Israel.

EU member countries are facing rising healthcare costs. Factors such as the over-prescription of drugs and an ageing population make it essential to seek savings. Israel, despite its small size, is at the forefront of major medical innovations.

Israel’s Teva Pharmaceuticals makes Copaxone, the world’s top selling treatment for multiple sclerosis. The company has also produced a generic version of Lipitor, the popular blood pressure medication and the world’s best-selling drug. By using Teva’s generic drugs, the costs to healthcare systems for blood pressure medication would be reduced by 92 per cent. Teva also produces a generic version of Actos, which is used to improve blood sugar control in adults with type 2 diabetes. According to industry estimates, Europeans save nearly 25 billion euros annually by using generics.