Is Pharma Innovation in Europe Falling Behind the US & China?

AstraZeneca’s CEO, Pascal Soriot said he thinks it is in an FT interview, adding that, “investments in life sciences are taking place in the U.S. and, as a consequence, lots of the talent is based in the U.S.” Data from Statista supports his view, suggesting the U.S. and China hold 42.6% and 7.6% share of the pharmaceutical market respectively, whereas the leading countries in Europe – Germany, France, Italy and the U.K. – hold just 11.5% combined. 

It’s not the first time Europe’s pharma and biotech industries have come under pressure. Just last year, the EU announced plans to update legislation governing the union’s $148 bn pharmaceuticals sector, in response to the decline in manufacturing on the continent limiting availability of vital medicines. European countries have highlighted the importance of economic investment too, with the UK recently committing to a $630 mn funding boost, the German Federal Government outlining key strategies to strengthen its position as a research and pharmaceutical powerhouse, and France’s president Macron announcing plans to boost domestic drug production. 

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