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Better medicine coming to EU

by: Ben Simons - Last updated: 2012-10-24

Teva medicine

Teva medicine

The European Parliament has approved a new pharmaceutical trade agreement between EU member countries and Israel which will see better trade between Israel and Europe, The move will make it easier for Israeli companies such as Teva to offer its generic medicines at much lower costs to the public.

In a vote on Tuesday, there was overwealiming support from MEPs with 379 votes in favour against 230 against and 41 abstentions.

The new agreement should see lower costs and make it easier for both EU companies and Israeli companies to trade with each other and provide consumers with a greater choice of medications.

"We would like to congratulate members of the European Parliament for endorsing a decision that will have wide-ranging benefits for European patients and industry alike," said David Saranga, Israeli head of European Parliament relations. "We are happy that this long-standing dossier has finally gained the parliament's approval after considerable delays. We look forward to working with European authorities to implement the ACAA protocol without delay."