AstraZeneca warns of the loss of competitiveness of the European pharmaceutical sector

BarcelonaThe European pharmaceutical sector is losing competitiveness compared to the US and China. This was warned by the president of AstraZeneca in Spain, Laura Colón, during a round table within the framework of the Annual Meeting of the Cercle d'Economia, in Barcelona. This situation, influenced by issues such as excessive regulation and bureaucracy, is combined with the lengthening of life expectancy which, in large part, is due to new drugs. "We must ensure that governments realize the value of drugs and that they are not just a cost," she warned.

Colón, in a round table with Carolina Aguilar, CEO of Inbrain Neuroelectronics, and Tim Knotnerus, CEO of Agomab Therapeutics, stated that per capita investment in treatments is much higher in the US. There has also been a decline in investment in research and development (R&D). "20 years ago in Europe we were first and now we are stagnating at 2.2% of GDP," compared to over 3% in the US and 2.8% in China, she added.

The president of AstraZeneca in Spain has also criticized "over-regulation", which leads to a loss of competitiveness, just as the president of CaixaBank, Tomàs Muniesa, stated the previous day. For example, in Spain, the period for a drug to reach the market exceeds 500 days.

AstraZeneca recently opened a global hub in Barcelona at the Estel building on Avinguda de Roma, where it will invest 1.3 billion euros until 2027 and 1,600 people dedicated to innovation work there. Colón explained that the initiative had the collaboration of the administrations and that it brings an effect of attracting investments and revitalizing the neighborhood where it is located. She explained that the company received 60,000 job applications to join this project.