Sjoerd Hubben, Senior Vice President, Global Corporate Affairs at AstraZeneca, shared on LinkedIn:
“This week, AstraZeneca Chair, Michel Demaré, joined nine European pharma chairs in a clear, timely message: Europe is losing the pharma investment race – but the comeback is within reach.
In 1990, Europe accounted for 43% of global pharma R&D. Today it’s 31% and falling. Europe’s share of clinical trials has halved in a decade to 9%.
Over the past two years, more than $600 billion in pharmaceutical investment has been announced in the US and China. Europe has lost ground – but it is not too late to change course.
National governments hold many of the most important levers, from health budgets to how innovative medicines are assessed and funded. The EU has a vital supporting role too, including the fiscal flexibility needed for long-term health investments that deliver returns over time.
Investing in innovation is not simply a healthcare cost. It is an investment in better population health, economic growth, high-value jobs, productivity and Europe’s health sovereignty.
AstraZeneca, alongside our industry peers, stands ready to partner with governments to reverse declining competitiveness, accelerate patient access to innovation, and help Europe regain its global leadership in life sciences.
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