Europe's Pharmaceutical Industry In 1993

During 1993, Europe relinquished its position as the world's largest pharmaceutical market. Out of a total estimated world market value for the year of 199.6 billion Ecu ($254 billion), Europe accounted for 29%, the USA represented 32% and Japan took 20%, according to the annual report of the European federation of Pharmaceutical Industries' Associations.

The EFPIA yearbook includes in its statistics for 1993 the pharmaceutical trade in the 16 European countries whose national industries it represents, namely Austria, belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the UK. It says that the 1993 figures confirm what the 1992 data had suggested, which is that pharmaceutical market growth in Europe is slowing, and in a number of countries has become negative. In 1993, for the first time in 15 years, pharmaceutical industry employment throughout Europe was virtually stagnant, it adds.

Effects of Govt Curbs "The social cost of the arbitrary measures imposed on the industry in some European countries turned out to be huge," according to the report. "Their impact has generally resulted in massive redundancies in these countries, contrasting sharply with a job creation average of 10,000 per year until 1992." Moreover, it adds, the last three years have seen a growing number of European pharmaceutical companies relocating their research and manufacturing facilities outside Europe, mainly to the USA.