Nine European pharma chairs warn of 'slow agony' as investment slips
The chairs of nine of Europe's largest drugmakers have jointly warned that the region is losing the race to develop, attract investment in and pay for new medicines, urging national governments to treat pharmaceuticals as strategic infrastructure on a par with defense and energy.
The letter, published on Tuesday and addressed to national leaders across Europe, was signed by the board chairs of UK-based AstraZeneca (LSE: AZN) and GSK (LSE: GSK), Swiss majors Novartis (SIX: NOVN) and Roche (SIX: ROG), Danish drugmaker Novo (NOV: N), French firms Sanofi (Euronext Paris: SAN) and Ipsen (Euronext Paris: IPN), and the privately held German and Italian companies Boehringer Ingelheim and Chiesi.
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