Innovation is the core of our industry. The solutions offered by innovative medicines can help keep people healthier for longer. Innovation also allows healthcare systems to be more sustainable, with innovative medical technologies cutting down costs and waiting times.
In 2011, the industry invested €27.5 billion in R&D, in Europe. However, the combination of rising R&D costs, complex research areas, and regulatory requirements make the EU a challenging environment for healthcare innovation. Europe’s ability to remain a leader in healthcare innovation depends on regulators, industry and civil society developing new models of collaboration and research.
As an industry we are looking into new means of innovation, with new research models coming to the fore that can make medicines development safer and more cost efficient. Looking to the future, we must adapt to the environment we find ourselves in as we continue to look for cures for our patients. For instance, we are looking to new research in stem cells to find cures for diseases such as Parkinson’s. Innovation is also about adapting to our patients.
"“One must also not forget that science is what has made the EU what it is. For all advances that we may have done in other sectors it is our science that has led us to be the largest economic region globally. Our planes, cars, chemicals and biotech- to name but a few- are at the forefront of their sectors. The EU and its Member States of course have to keep budgets under control but one must also look to the future and avoid the disastrous consequences of any loss of competitivity in any of our core sectors. This is a fundamental choice that our decision makers must now make.”"
Richard Bergström, EFPIA Director General