European Economic Security Strategy in Biopharma

This technical report discusses the necessity of a European economic security strategy in the biopharmaceutical sector, authored by Milena Richter. It outlines the competitive landscape shaped by the intensifying rivalry between the United States and China, both of which are advancing their biopharma capabilities. The report highlights Europe's current strengths in research and biomanufacturing but warns of its declining position in clinical trials and R&D investment due to fragmented regulations and financing challenges. It identifies two potential scenarios for the future: 'managed rivalry' and 'acceleration of chokepoints', both of which pose significant risks to Europe's biopharma competitiveness. The report emphasizes the need for Europe to enhance its risk assessment capabilities, promote innovation, enable a single market for clinical trials, and judiciously use economic security instruments. It calls for a collaborative approach between industry and governments to fortify Europe's position in the global biopharma landscape, ensuring that economic security and competitiveness are prioritized.