Science for life: The future of global medicines development

The EU’s new pharmaceutical strategy recognises that research & development and industrial innovation are key to sustaining Europe’s historical excellence and market leadership in health and life science sectors. As the European Commission prepares to issue its proposals to revise 60 years of basic pharmaceutical legislation, key stakeholders are nervously awaiting the outcome: will the EU’s future landscape for the development of new drugs and therapeutics be defined by red tape and precautionary principles, or will it usher in a ‘brave new world’ of deep tech innovation, breakthrough science, public-private partnerships and international cooperation? In parallel, the Commission continues its work to pilot and implement the European common health data space (EHDS) – intended to enable better healthcare, health research, innovation, and evidence-based decisions, but similarly shrouded in uncertainty about the modalities of (primary and secondary) data sharing and integration, and the levels of access that will be afforded to different stakeholders.

During the first half of 2023, the Swedish government holds the rotating presidency of the European Council, and has signalled its commitment to prioritise health and life sciences as a connecting point between the EU’s wider industrial strategy and competitiveness, the continent’s continued recovery from the COVID pandemic, Europe’s beating cancer plan, and international collaboration on a new pandemic treaty, among other areas. In doing so, it looks to leverage its well-earned tradition of excellence in medical sciences and technology development, along with one of world’s most advanced life science innovation ecosystems. So will the forthcoming Commission proposals on pharmaceutical legislation help or hinder these ambitions?  If the former, great opportunities may lie ahead for R&D and innovation leaders, but if the latter, the consequences for the next generation of medical treatments and solutions to transform patient lives may be considerable.  

On May 3, Science|Business will convene experts from across its international Network, the European institutions and other key stakeholders to discuss the new reality for health and life science research and innovation, and what lies ahead.