The European Federation of Pharmaceutical Industries and Associations (EFPIA) has highlighted the critical role of the pharmaceutical industry in maintaining the EU’s economic stability. Following a recent meeting of European heads of state in Belgium, where global competitiveness and the strengthening of the single market were discussed, the EFPIA emphasized that the research-based pharmaceutical sector must be central to these discussions. Without the pharmaceutical industry, the trade balance of the EU would dramatically shift from a surplus of 147 billion euros to a deficit of 47 billion euros, indicating the sector's significant impact on the overall economy.

Nathalie Moll, the Director General of EFPIA, pointed out that the pharmaceutical industry is a key driver of industrial research and development (R&D) in the EU, investing 55 billion euros annually in European R&D and generating 320 billion euros in exports. This underlines the extensive economic contribution of the pharmaceutical sector not only to the trade balance but also to job creation and innovation within the EU. The dire implications of losing this industry indicate that it is essential for EU leaders to prioritize its support in policy discussions moving forward.

The need for recognizing the pharmaceutical industry’s contributions is urgent, especially as Europe navigates challenges to its global competitiveness. The EFPIA's assertions aim to encourage policymakers to consider the importance of the sector not just for economic metrics but also for public health and safety. As conversations about the single market and competitiveness progress, ensuring a robust pharmaceutical sector can help secure sustainable growth for the EU economy.