Europe’s pharmaceutical industry is both an innovative, economically important industry, and an essential part of public service provision in a fraught geo-economic era. For instance, in 2020 the European pharmaceutical industry exported goods at a value of some 510 billion Euro, imported goods worth 347 billion Euro and had over 835,000 employees. While also being vital for the provision of drugs in Europe, and having confirmed its capacity to address urgent crises by means of innovative vaccine developments during the Covid-19 pandemic, for example. The prominence of Europe as a pharmaceutical and innovation location extends far beyond the continent.
Authors: Tim Peter, policy advisor for the Competitiveness of Europe, Konrad Adenauer Foundation; Moritz Fink, senior policy advisor for Global Health, Konrad Adenauer Foundation; Dr. Norbert Arnold, senior advisor for Science, Technology and Ethics, Konrad Adenauer Foundation.
This text has originally been published on the Konrad Adenauer Foundation website.