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Pharma Giants Warn: EU Red Tape Stifles Research
23 Apr
Summary
- Europe risks falling behind US and China in drug innovation.
- Bureaucracy and policies are threatening jobs and research.
- New drug launches in Europe have decreased by one-third.
Europe risks ceding ground to the United States and China in pharmaceutical research and innovation due to excessive bureaucracy and detrimental government policies. Roche CEO Thomas Schinecker expressed concern that these factors threaten jobs and undermine the region's industrial strengths.
Schinecker stated that illogical regulations are hindering innovation, impacting one of Europe's key industrial assets. He noted that new drug launches in Europe have dropped by about a third since May of last year, partly due to U.S. pricing policies. Despite these challenges, Roche and Sanofi remain committed to launching new medicines in Europe.
Rich countries are urged to contribute their fair share for innovation, a principle Schinecker believes the Trump administration's logic aligns with. Sanofi's CFO indicated that while new medicines will still launch in Europe, U.S. policies might necessitate adjustments to pricing and launch strategies.
