European Pharma Leaders Warn of Declining R&D Share Amid Global Shifts
What happened
Nine leading European pharmaceutical companies issued an open letter to European political leaders. The letter highlights that Europe's share of global pharmaceutical R&D has dropped from 43% in 1990 to 31% and continues to decline. The companies note that Europe's share of commercial clinical trials has halved over the last decade to 9%.
Why it matters
The decline is attributed to increased investment and clinical trial activity in competing markets, specifically the US and China. Furthermore, European Federation of Pharmaceutical Industries and Associations data shows that about 40% of newly approved therapies do not reach European patients, and those that do may take nearly 600 days.
Who's involved
- European Federation of Pharmaceutical Industries and AssociationsTrade association reporting the decline in European R&D share
- EuropeContinent whose pharmaceutical R&D share is decreasing globally
- ChinaCompeting market ramping up investment and clinical trials
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
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The entities involved
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European Federation of Pharmaceutical Industries and Associations
Brussels-based trade association
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Europe
terrestrial continent located in north-western Eurasia