The evaluation and revision of the general pharmaceutical legislation is the opportunity to create a future-proof, patient-oriented and leading life science and biotechnology sector in the EU.
The first aim of this initiative should be to regain EU’s global leadership as a home for R&D and cutting-edge industry to secure high-quality care for citizens at affordable levels.
New biotechnology-derived vaccines and treatments have helped to tackle numerous life-threatening illnesses. Targeted treatments, like cell and gene therapies, and new mRNA platforms are paving the way for future treatments. COVID-19 has shown that only science-based and high-risk research embedded in a strong life science industry ecosystem can bring the lasting solutions to health challenges.
Emerging biopharmaceutical companies account for over 70% of the research pipeline contributing to a vibrant sector. The EU biotech sector, mostly made up of SMEs, relies on robust IP and targeted incentives that enable companies to raise risk capital, with the prospect of remaining unprofitable for years. It is due to these set of incentives that the EU has retained its capability to produce breakthrough innovation. To keep pace with the rest of the world, future incentives should reflect the economic challenges of developing health innovation.
Join us to find out how investing in R&D for innovative medicines and treatments is essential to support a competitive European biotechnology industry.