European Industry Urges State Aid Changes To Allow COVID Recovery
Medicines For Europe Calls For Five-Year Temporary Relief To Permit Investment
A five-year period of temporary relief from EU state aid rules should be introduced for countries willing to invest in API and medicine production, Medicines for Europe has urged, insisting that current restrictions do not allow the investment necessary to bolster the supply chain in the wake of COVID-19.
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Teva has called for action from European leaders to address the threat of an essential medicines industry “exodus” from the region, suggesting that the continent is facing a losing battle against China and India that has led to the migration of vital manufacturing assets.
Current EU policy discourages the domestic manufacturing of essential medicines, say Medicines for Europe and the European Fine Chemicals Group. The associations have called for “immediate, robust and ambitious” policy change to drive manufacturing back home.
Shreehas Tambe has been named as CEO of Biocon Biologics, taking over from Arun Chandavarkar, in the wake of the company’s milestone $3bn transaction for Viatris’s biosimilars business.