European drugmakers are losing ground to US and Chinese rivals in the global pharmaceutical industry, according to a letter from the chairs of nine major companies. The letter, addressed to UK Mayor Andy Burnham and other European leaders, warns that Europe is falling behind in developing new drugs and attracting investment. The companies, including AstraZeneca, GSK, and Novo Nordisk, call for urgent action to safeguard their future and restore Europe's competitiveness.
Europe's Pharmaceutical Industry at Risk
The letter, titled "Europe is Losing the Pharma Investment Race – But the Comeback is Within Reach," argues that the pharmaceutical sector is one of Europe's great postwar achievements. It supports millions of highly skilled jobs and generates an EU trade surplus of over €220bn. However, this hard-won inheritance is at risk. "In our boardrooms, we see Europe losing ground to global competition," the letter states. Over $600bn in pharmaceutical investment has been announced in the US and China in the last two years alone. The chairs urge governments to treat medicines as strategic infrastructure, secure health sovereignty, and act now to restore Europe's competitiveness.
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Investment Trends: Europe vs. US and China
The disparity in investment is stark. While Europe struggles to attract next-generation medicine investments, the US and China are surging ahead. The table below compares key investment metrics over the past two years.
| Region | Pharmaceutical Investment (Last 2 Years) | Key Advantages |
|---|---|---|
| United States | Over $600bn (combined with China) | Favorable regulatory environment, strong venture capital, large market |
| China | Over $600bn (combined with US) | Rapid clinical trials, government support, huge patient pool |
| Europe | Lagging behind | Strong research base, skilled workforce, but fragmented regulations |
Key Takeaways from the Letter
- Europe is losing ground to US and Chinese competitors in pharmaceutical innovation and investment.
- Over $600bn has been invested in the US and China in the last two years, compared to Europe's declining share.
- Governments must act to treat medicines as strategic infrastructure and secure health sovereignty.
- Urgent reforms are needed to attract investment in next-generation medicines before it's too late.
What Needs to Change?
The letter calls on European governments to create conditions that attract investment in next-generation medicines. This includes streamlining regulations, increasing funding for research and development, and fostering a more competitive environment. The chairs emphasize that without immediate action, Europe risks losing its position as a global leader in pharmaceuticals. They argue that the comeback is within reach, but only if governments prioritize the sector as strategic infrastructure.
FAQ
Which European drugmakers signed the letter?
The letter was signed by the chairs of nine companies, including AstraZeneca, GSK, and Novo Nordisk from the UK and Denmark, as well as Boehringer Ingelheim, Chiesi, Sanofi, Ipsen, Novartis, and Roche.
How much has been invested in US and Chinese pharma?
Over $600bn in pharmaceutical investment has been announced in the US and China in the last two years alone.
What actions are being demanded?
The letter calls on governments to treat medicines as strategic infrastructure, secure health sovereignty, and act now to restore Europe's competitiveness by creating conditions that attract investment in next-generation medicines.
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