European Pharma Rules Overhaul, Concerns Arise Over Billions In Lost Investment, Undiscovered Treatments
Portfolio Pulse from Vandana Singh
The European Federation of Pharmaceutical Industries and Associations (EFPIA) has released research showing that the European Commission's draft Pharmaceutical Legislation could make Europe less innovative than the U.S., China, and Japan. The legislation could decrease the motivation for companies to invest in new medicines by 55% in Europe over the next 15 years. This could result in Europe's share in global research and development declining from 32% to 21% by 2040, leading to €2 billion per year in lost investment. EFPIA President and CEO of Novo Nordisk A/S (NYSE: NVO), Lars Fruergaard Jorgensen, stated that many of Novo's new medicines are being developed in the U.S. due to its more attractive environment.
November 06, 2023 | 1:42 pm
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Novo Nordisk's CEO stated that many of the company's new medicines are being developed in the U.S. due to its more attractive environment. This suggests that the company may not be significantly impacted by the proposed European legislation.
Novo Nordisk's CEO has indicated that the company is already focusing its development efforts in the U.S., which suggests that the proposed European legislation may not significantly impact the company's operations. However, the legislation could potentially affect the company's future expansion plans in Europe.
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