European Pharma Board Chairs Warn of Biotech Decline, Urge EU Policy Reform

The board chairs of nine major European pharmaceutical companies on Sept. 22 issued an open letter urging EU policymakers to reverse the region's declining share of global biotech investment and research. Europe's share of global pharmaceutical R&D has fallen to 31% from 43% in 1990, and its share of commercial clinical trials has halved over the past decade to 9%, the executives said. They blamed policies that treat medicines "as a cost to suppress rather than one of the best investments a government can make," citing budget caps and slow approval processes. The letter follows China's new five-year plan targeting 25% of first-in-class drugs. The U.S. and China together have attracted more than $600 billion in pharmaceutical investment over the past two years, the chairs said, while Europe lags amid strict pricing controls and negotiations with member states. The executives called for accelerated clinical trials, stronger intellectual property protections and fiscal flexibility for member states. The group includes the board chairs of AstraZeneca, Boehringer Ingelheim, Chiesi Group, Ipsen, GSK, Novo Nordisk, Novartis, Roche and Sanofi.