EU Pharma Leader Advocates for European Nasdaq to Propel Biotech Innovation
Stefan Oelrich, President of the European Federation of Pharmaceutical Industries and Associations (EFPIA), has called for the establishment of a European equivalent to the Nasdaq stock exchange to invigorate biotech innovation across the continent. This proposal aims to address the challenges European biotech companies face in securing funding and scaling operations compared to their U.S. counterparts.
Oelrich emphasized that Europe's fragmented regulatory environment and inconsistent drug pricing mechanisms hinder the growth of its biotech sector. He pointed out that many FDA-approved drugs in the U.S. never reach European markets due to these barriers, stifling innovation and patient access to new treatments.
The concept of a "European Nasdaq" seeks to provide a centralized platform for biotech firms to access capital markets more efficiently, fostering a more robust and competitive biotech ecosystem in Europe. Such an initiative would not only support existing companies but also attract new ventures and talent to the region.
This call to action aligns with broader discussions within the EU about enhancing its competitiveness in the global biotech industry. Stakeholders argue that without significant reforms and investments, Europe risks falling further behind in the rapidly evolving biotech landscape.
