The 70% figure refers to the proportion of dispensed medicines by volume (packages/units), not by value. The MEP did not specify whether this refers to the EU specifically or Europe more broadly, though Medicines for Europe data typically covers EU member states.
The source of this figure is Medicines for Europe (the European generic and biosimilar medicines association), which the MEP did not cite.
Sources
PrimaryMedicines for Europe - Generics Market Review 2025Market review confirming generic medicines represent the majority of dispensed medicines in Europe, with detailed country-by-country market share data showing levels around 70% by volume
SecondaryMedicines for EuropeGeneric medicines represent 70% of dispensed medicines and are critical to healthcare