Post by Nicholas Cosenza

A new report from EFPIA - European Federation of Pharmaceutical Industries and Associations about medicines in Europe includes some sobering statistics:   66 out of 67 EU biotech companies that went public did so by listing outside of the EU.   Europe’s share of commercially sponsored clinical trials has fallen from 22% to 12% between 2013 and 2023 while China’s share has risen from 5% to 18% over the same period.   78% of new drugs globally are sold in the US within one year. In Europe, the figure is 15%.   The conclusion is clear: Europe is becoming a less appealing place to do business in a highly competitive global environment.   The good news is that Europe has many of the assets needed to compete successfully. Building on these strengths through ambitious action, such as the EU Biotech Act, can help make Europe a more attractive destination for pharmaceutical investment.   Read more: https://lnkd.in/etMTRt8F   #MyCompany