Can Europe’s biopharma industry revive its innovation leadership?

European Commission President Ursula von der Leyen pledged to increase the EU’s research funding in an effort to strengthen Europe’s position in the global biopharma industry. In 1990, European R&D spending was at a similar level to the US; however, US spending has since significantly outstripped that of Europe. Higher regulatory burdens and escalating R&D costs have moved some research activities from Europe to emerging markets.