In 2010 the research-based pharmaceutical industry invested an estimated € 27,000 million in R&D in Europe. It directly employs 640,000 people and generates three to four times more employment indirectly – upstream and downstream – than it does directly. However, the sector faces real challenges. Besides the additional regulatory hurdles and escalating R&D costs, the sector has been severely hit by the impact of fifiscal austerity measures introduced by governments across much of Europe in 2010 and in 2011.
