health
Trump policies, China's biotech boom are ending Europe's pharma powerhouse era
Companies have long lamented Europe's fragmented capital markets, single-market adoption on pricing and clinical trials, and uneven reimbursement policies.
TL;DR
- Europe's pharmaceutical industry is losing competitiveness due to U.S. trade policies and China's biotech boom.
- Companies are shifting investments away from Europe, impacting new medicine launches.
- U.S. R&D share has increased significantly, while Europe's has declined.
- China has emerged as an innovation leader in biotech, with a growing share of the global pipeline.
- Europe faces challenges from fragmented capital markets, pricing, and reimbursement policies.
- Increased U.S. tariffs and 'most-favored-nation' pricing policies are pressuring European governments and companies.
- Europe spends less on pharmaceuticals as a percentage of GDP compared to the U.S. and China.
- Despite challenges, proposed EU legislation and specific country initiatives like Spain's show potential for improvement.
- Urgent changes are needed in Europe, including increased spending, faster patient access, and a better operating environment for companies.