The research based pharmaceutical industry welcomes Mario Draghi’s report, published today by the European Commission, outlining proposals on how Europe can regain its competitive edge and the critical role of innovative industries in achieving this.

This timely report aligns with our industry’s ambition to once again make Europe the go to location for research, development and manufacturing of new diagnostics, treatments and vaccines. 

We are pleased that the report takes a holistic view of our sector, recognising its strategic importance to Europe as well as its uncertain future in the context of fierce competition from more ambitious regions of the world. The report underlines the need to harmonise and streamline practices and invest in infrastructure to improve the fragmented life science ecosystem that exists in the EU.

It is reassuring that the report calls for continuous dialogue with relevant stakeholders including industry and competitiveness checks on future legislation, recognising the significant challenges that Europe faces from global competitors, in particular the US and China.

The report echoes the call by the research based pharmaceutical industry for more supportive and coherent policies to prevent further erosion of the sector and reverse a trend which has seen Europe’s share of global R&D investment fall by a quarter in the past two decades. The report makes a number of pragmatic recommendations which could help support and incentivise companies working in the region. 

Commenting on the report, Nathalie Moll, Director General, EFPIA, said:

“The innovative pharmaceutical industry is a critical pillar of the European economy, yet its position as a global leader is precarious as investors increasingly look elsewhere. This report shows ambition at the highest level to address the issues; we hope it will be a much-needed catalyst to drive change.

If pharmaceutical companies are to catch up and compete on a level playing field, these recommendations should be actioned swiftly alongside a coherent and comprehensive life science strategy with dedicated oversight by the European Commission. We have ideas to bring to the table and we look forward to working with our partners to turn these into concrete action.”