European drugmakers say they are ‘losing ground’ to US and Chinese rivals

Europe’s leading pharmaceutical companies have warned that the continent is falling behind the US and China in drug innovation and investment, urging national leaders to take urgent steps to protect the industry’s future. In a joint letter, executives from nine major firms—including AstraZeneca, GSK, and Novo Nordisk—highlighted growing concerns over competitiveness, calling for coordinated action to reverse the trend. The plea comes as global pharmaceutical markets intensify competition, raising questions about Europe’s ability to sustain its role in medical research and development. The letter marks a rare public push by industry giants for political intervention to secure long-term stability.

Some of continent’s biggest pharma firms write to national leaders calling for action to safeguard their futuresSome of Europe’s biggest pharmaceutical companies have said the continent is “losing ground” to rivals including the US and China in developing new drugs and attracting investment.The chairs of nine companies, including Britain’s AstraZeneca, GSK and Denmark’s Novo Nordisk, wrote to Andy Burnham and the national leaders of other European countries on Tuesday to call for action to “safeguard our companies’ future”. Continue reading...