A Competitive Strategy for the Pharmaceutical Sector in the European Union

On 9 September 2024, Mario Draghi published his report ‘The future of European  competitiveness’. The report contains a comprehensive analysis of the challenges faced by the industry and companies in the EU. The objective of the report is to contribute to the Commission’s work on a new plan for Europe’s sustainable prosperity and competitiveness.

In chapter 9, the report focusses on the competitiveness of the European pharma sector. The EU pharma sector accounts for 5% of the value added to the EU economy from all manufacturing and employs around 937,000 people. Although the EU leverages a historic footprint in the pharma sector, the EU pharma sector falls behind compared to the US and China.

Read here the full report Overview – Report on EU Competitiveness – Pharma and Life Sciences Sector.