European drugmakers say they are ‘losing ground’ to US and Chinese rivals
Summary
Europe’s top drug companies say they are falling behind the US and China in making new medicines and getting investments. They have asked European leaders to take urgent action to support the pharmaceutical industry and improve Europe’s global competitiveness.Key Facts
- Nine major European drug companies, including AstraZeneca, GSK, and Novo Nordisk, sent a letter to European leaders calling for government support.
- The letter says Europe’s share of global pharmaceutical research dropped from 43% in 1990 to 31% today.
- Europe’s share of clinical trials has fallen from 18% to 9% in the last decade.
- China’s share of clinical trials rose from under 10% to almost 30% in the same period.
- Nearly half (49%) of new medicines approved last year were not available to European patients, with delays varying from 56 days in Germany to over 1,200 days in Romania.
- The drug companies argue that investing more in clinical trials could add €53 billion and create 82,000 jobs in Europe.
- They ask leaders to treat medicine development like vital infrastructure, similar to defense or energy sectors.
- The letter was signed by leaders from companies across Europe, including AstraZeneca, GSK, Roche, Novartis, and Sanofi.
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