Pharmaceutical companies gathered in Santander are calling for a review of bureaucracy to enhance Europe’s competitiveness against the United States and China. They propose shortening the timelines for new drugs to reach the market.
Pharmaceutical companies have requested adjustments to regulation during the XXV Meeting of the Spanish Pharmaceutical Industry held at the Universidad Internacional Menéndez Pelayo in Santander. According to the information, the industry believes that Europe’s loss of competitiveness is due to bureaucracy and the slow processes of drug approval.
In the last five years, Europe has developed 87 new molecules, compared to 133 from China and 140 from the United States. Pharmaceutical companies believe that to regain competitiveness, it is essential to rethink the regulatory structure and shorten market entry times.
“The geopolitical situation forces us to rethink how we react,” stated Fina Lladós, president of Farmaindustria and Amgen.
The president emphasized that Europe needs to seize legislative opportunities to remain an attractive hub for innovation. Additionally, Esther Mosquera, country manager of Faes Farma, highlighted the importance of a predictable regulatory environment to facilitate investment in R&D.
Meanwhile, Federico Plaza, director of Government Affairs at Roche Farma, stressed that regulatory processes in Europe are too slow, making it difficult to adapt to current circumstances. Jordi Sánchez, CEO of Bayer Iberia, also advocated for a more attractive and predictable regulatory framework to foster innovation.
Finally, Carlos Murillo, president of Pfizer, pointed out that investment decisions depend on a stable regulatory environment and the region’s capacity for innovation.
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