Avoiding incompatible and contradictory policy initiatives and creating the conditions that lead to a healthier and more resilient Europe should be at the heart of the EU’s life sciences strategy.
The start of a new mandate is a good time for reflection: last month, EFPIA published its European Life Sciences Competitiveness Strategy, which included a series of recommendations to revitalize the sector.
This strategy should help Europe turn ideas into innovations and foster competitive European biotechnology and pharmaceutical clusters. The funding available to European biotechnology companies is only about 20% of that available to their US counterparts. (3) A new level of support is needed to sustain European start-ups and strengthen European capital markets. We need to create an EU framework program that fosters partnerships and health safety, and strengthens internationally competitive intellectual property rights and regulatory incentives.
To be a location of choice for research, development and manufacturing, we need to improve STEM education to address the skills gap and attract the best talent from around the world. Today, almost three-quarters of European science graduates choose to stay in the United States after completing their PhD, with locations such as Boston and San Francisco. (4)(5)(6)(7) We need to develop a harmonized and agile clinical trial ecosystem that supports clinical trials in multiple countries and promotes effective access to and use of health data to advance the research, development and manufacturing of innovative medical technologies.
Ageing populations, a growing burden of chronic diseases, a shrinking workforce and the effects of climate change mean Europe needs to invest in health.
Ageing populations, a growing burden of chronic diseases, a shrinking workforce and the effects of climate change mean Europe needs to invest in healthcare. Through strategic financing, infrastructure upgrading, prevention, digitalisation, national framework conditions and green practices, the EU can help Member States achieve better health outcomes for their citizens, more efficient healthcare systems and medical innovation.
We believe we can secure Europe's position as a global leader in life sciences. That means ensuring the European Medicines Agency is sufficiently resourced to deliver an ambitious, forward-looking regulatory framework and to have a leading voice in international regulatory convergence. We will need open trade and partnership agreements on life sciences with trusted countries, and new tools and initiatives to attract foreign direct investment into European life sciences.
Imagine if Europe stopped the next pandemic, found treatments that slowed the progression of Alzheimer's disease, and transformed the lives of people with chronic diseases. This is EFPIA's vision for the future of Europe's life sciences sector. An EU Life Sciences Strategy, with dedicated oversight and accountability, will help make that vision a reality.
