EU reaches provisional deal to address shortage of essential medicines

The European Parliament on Tuesday said it had reached a provisional deal to strengthen the bloc's supply of essential medicines by increasing production within Europe and reducing dependency on non-EU countries.

The measures under the agreed text target critical medicines such as antibiotics, insulin and vaccines, and aim to expand EU manufacturing capacity.

The provisional pact comes at a critical juncture for the bloc, which has been scrambling to ensure future access to new drugs as U.S. pricing policies continue to shake the pharmaceuticals sector.

It needs to be approved by both the European Parliament and the European Council before the new rules can enter into force.

Emer Cooke, the head of the European Medicines Agency, last month urged regional authorities in the EU to work together more closely to ensure access to drugs.

-Ananya Palyekar/Reuters