Europe at Crossroads: Can It Compete With Other Regions for Healthcare Innovation?

Pharmaceutical companies base R&D and launch strategies on expected return on investment. In the past decade, the US has significantly outpaced Europe in pharmaceutical R&D spending, while China is rapidly gaining ground. The US leads Europe on every investor metric from capital availability, intellectual property, speed of approval to rewards for innovation. For small biotech firms, Europe remains a particularly difficult environment, with fewer than half U.S. approved therapies available. Inequalities in access within Europe are also significant. The 2024 WAIT indicator shows that nearly half (48%) of medicines are not available to all EU patients and it can take up to 3 yrs for medicines to become reimbursed in some countries post marketing authorization. The EU JCA initiative aims to attract investment and reduce access inequalities. However, there are multiple complexities and burdensome hurdles in the implementation process. Meanwhile, shifting geopolitical risks further challenge Europe’s global competitiveness. How can Europe become a more attractive region for pharmaceutical R&D and timely launches? Are pricing and reimbursement strategies the primary barrier, or are HTA processes and regulatory inefficiencies equally responsible? What reforms are needed to incentivize R&D investment and equitable patient access across Europe? Overview: This panel will explore actionable solutions to boost Europe’s competitiveness in pharmaceutical R&D and launch strategies. Moderated by Cristina Masseria, the session brings together diverse perspectives across the healthcare ecosystem. Gergana Zlateva will bring extensive expertise in access to medicines, Brian O’Rourke will offer insights drawn from his deep experience in HTA decision-making processes, and Neal Masia will provide a financial and investment-oriented viewpoint. The panel will actively engage the audience to capture their perspectives. The discussion will focus on identifying concrete steps to make Europe a more attractive and competitive environment for pharmaceutical innovation and patient access.