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RELEASE: TEVA collaborates with the Pharmaceutical Bank Association to fight against pharmaceutical poverty in Spain

(Information sent by the signatory company).

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RELEASE: TEVA collaborates with the Pharmaceutical Bank Association to fight against pharmaceutical poverty in Spain

(Information sent by the signatory company)

Madrid, March 14, 2023.

Banco Farmacéutico is a non-profit association whose objective is to help those people who have financial difficulties to pay for their prescribed treatments. With this collaboration, TEVA will help cover the pharmaceutical co-payment of vulnerable patients

Teva, the leading pharmaceutical company in generic medicines worldwide and with a powerful area of ​​innovation, is going to collaborate with the Banco Farmacéutico Association, covering the pharmaceutical co-payment of vulnerable patients who, for different socioeconomic reasons, cannot afford the treatment expenses. This collaboration will help improve access to medicines and alleviate pharmaceutical poverty in Spain. Pharmaceutical poverty is the inability to assume the cost of a prescribed treatment (medicines or health products). According to estimates by the Pharmaceutical Bank itself, this pharmaceutical poverty affects about 3% of the population in Spain, around 1.5 million people who cannot afford to pay for the medicines and health products they need.Since the year 2007, the Pharmaceutical Bank Association has fought against pharmaceutical poverty in two ways. On the one hand, from the Pharmaceutical Poverty Observatory, it has worked on the study and dimensioning of this social problem, to subsequently make it visible and raise awareness about it in society and public authorities. On the other hand, through the Social Medicine Fund, it works daily to care for vulnerable patients enrolled in this program, started in 2015, which since then has covered approximately 10,000 medication plans for an amount of more than 1.3 million euros. .TEVA is going to collaborate with the Pharmaceutical Bank Association in the fight against pharmaceutical poverty, with the ultimate goal of ensuring that no patient has to give up their treatment due to lack of economic resources. In addition to collaborating with the Observatory of Pharmaceutical Poverty, TEVA It will also contribute to the Social Fund for Medicines to cover the pharmaceutical copayment for vulnerable patients who cannot access their medication due to lack of financial resources. Thanks to this collaboration, Banco Farmacéutico estimates that it will be able to help 3,624 patients in the country during 2023. The profile of these patients in pharmaceutical poverty is mostly unemployed men and women, but it is also true that there is a percentage of patients, almost 10% , with jobs that face great difficulties in meeting their medication needs. This collaboration will improve access to medications for patients, as pointed out by the general director of TEVA in Spain and Portugal, Juan Carlos Conde: "In advanced economies and societies like this, there is also the invisible problem of pharmaceutical poverty and access to medicines in some social segments of the population. I am very happy that Teva can help in Spain to reduce this problem, in line with something that we do effectively every improve access to medicines". For his part, Rafael Borràs, director of Corporate Affairs at TEVA, pointed out the great work that Banco Farmacéutico does and the importance of this collaboration: "Helping the most vulnerable profiles of society to access the medicines they need must be a social priority. No one would have to be faced with the dilemma of having to choose between taking medication or eating."

Contact Contact name: Javier Télez Contact description: Javier Télez Contact telephone number: 666420033