Business & Finance
European drugmakers warn leaders of declining competitiveness against US and China
The Guardian reports that chairs of nine major pharmaceutical firms urged European leaders to treat medicines as vital infrastructure.
The short version
- Chairs of nine major pharmaceutical companies, including AstraZeneca, GSK, and Novo Nordisk, sent a joint letter to European leaders warning that the region is falling behind the US and China in medical research and investment.[The Guardian]
- Europe's share of global pharmaceutical research and development fell from 43% in 1990 to 31%, while its share of commercial clinical trials dropped to 9%.[The Guardian]
- Industry data also indicates that 49% of newly approved therapies failed to reach European patients last year, facing an average delay of nearly 600 days when they do.[The Guardian]
- The companies are urging governments to enact policy changes to safeguard health sovereignty and reverse declining competitiveness.[The Guardian]
Key facts
- Chairs of nine European pharmaceutical firms wrote to European leaders urging them to treat medicines as strategic infrastructure.[The Guardian]
- Over $600bn in pharmaceutical investment was announced in the US and China over the past two years.[The Guardian]
- Europe's share of global pharmaceutical R&D fell from 43% in 1990 to 31%, according to EFPIA.[The Guardian]
- Europe's share of commercial clinical trials halved to 9% over a decade, while China's share rose to nearly 30%.[The Guardian]
- According to EFPIA data, 49% of newly approved therapies did not reach European patients last year.[The Guardian]
What remains uncertain
- Whether European governments will adopt the policy recommendations urged by the pharmaceutical executives remains unconfirmed.[The Guardian]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.
- European drugmakers say they are ‘losing ground’ to US and Chinese rivalsThe Guardian - World