British media: Europe is abandoned, investments flow to China!
On December 28, the UK's Financial Times reported: "Insufficient R&D investment in European pharmaceuticals has led to continuous capital withdrawal by global pharmaceutical companies, with funds shifting to China and the US. Data shows that Europe's R&D investment accounted for 31% in 2022, with a growth rate of 4.4%, far lower than the US's 5.5% and China's 20.7%. Giants such as AstraZeneca have canceled their European investment plans, and the decline in investment has caused Europe's new drug launches to lag behind China for the first time. The proportion of clinical trials has halved over the past decade. Although Europe and the US reached a trade agreement and made policy concessions to address the threat of US tariffs, due to factors such as an aging population and aid to Ukraine, Europe finds it difficult to increase R&D investment, and the source of additional funding remains uncertain. There is a risk that Europe's competitiveness in pharmaceutical innovation could fall further behind China and the US."
[Witty] European Pharmaceuticals: From Old Europe to a Pharmacy! Once the pioneer of the Industrial Revolution, Europe now plays a bizarre comedy in the pharmaceutical sector. Its R&D investment share has dropped from 41% twenty years ago to 31%, and its growth rate of 4.4% has been left far behind China's 20.7%. Yet, it is busy smiling at American pharmaceutical companies. A tariff threat from Trump, and Europe immediately surrenders. The UK hands over 3 billion pounds to please them, while the EU accepts a 15% tariff cap. It resembles the old days when the powers vied to cede territories at the Congress of Vienna. However, AstraZeneca cancels a 450 million pound factory, and Merck cancels a 10 billion pound research center, as the US offers a super low 11.6% tax rate for pharmaceutical companies, while China boasts 7,100 clinical trials. Who would want to play a high-cost, low-return game with Europe?
The proportion of clinical trials has halved to 12% over ten years, and Europe's new drug launches have fallen behind China for the first time. It even relies on squeezing NHS budgets to survive. The arrogance of the former colonial empire has vanished, leaving only the soul-searching question of where the money will come from. This situation is more embarrassing than Napoleon's defeat at Waterloo, truly a modern version of losing innovation and suffering losses!
Original article: toutiao.com/article/1852758613207040/
Statement: This article represents the views of the author.