EU Pharma Innovation Decline Threatened by Proposed Law and Conflict of Interest Concerns

The European Commission's proposed overhaul of pharmaceutical rules could lead to a decline in Europe's share of global research and development by a third, resulting in a loss of 2 billion euros per year in investment, according to industry group EFPIA. The group argues that the Commission has not conducted a competitiveness impact assessment and warns that the new rules would accelerate the negative innovation trend in the EU, particularly affecting small and medium-sized enterprises. The proposed changes include shortening the time a new medicine remains patented and reducing new medicine approval times, with the aim of reducing costs for citizens. However, pharmaceutical companies argue that these measures would hinder their ability to recoup investments and could lead to a shift of research and development activities to the United States and China.