The Challenge for European Pharma: Results from the INNOGEN conference
INNOGEN, a branch of the Economic and Social Research Council, is staging a conference on the Evolution of the Life Science Industry in Edinburgh, U.K. The background is of an industrial sector which has been dominated by the US and Europe but which is now likely to be overtaken by Asia. Significantly, the development costs of European drugs are increasing, investment risk is also on the rise, and fewer innovative products are entering the marketplace.
The INNOGEN conference suggested some possible remedies –
– Reduction in the cost of drug development, particulary in terms of management and regulatory processes.
– The continued use of bioclusters of expertise and the outsourcing of, what would normally be, in-house R&D.
For further information, and more detailed information from the conference, including quotes from international speakers, clickhere.
News Source: ESRC, Press Release 22nd Febuary