Covid 19 and the European Pharma Industry T he pharmaceutical industry is one of the European Union’s highest performing Technology sectors, with it consistently driving and advancing medical achievements. Through research, development and new medical breakthroughs, pharma has become such a key asset of the EU crea ng an es mated value of 220 billion Euros. However, this market has been severely hit by the austerity measures that the union has sought to employ since 2010, causing inabili es to further invest in na onal or con nental research at a me when compe on is growing from further developing na ons such as Brazil, China and India. In fact, migra on to these countries is happening as their markets show an 11% growth rate versus the 5% EU average, with Europe now only accoun ng for 17.7% of all new medical discoveries being brought to market. Covid 19 has proven to be the biggest challenge to the already struggling industry, so with the consequences of the outbreak, the reac on is crucial
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to ensure a constant supply of adequate pharmaceu cal treatments are available to European ci zens. In terms of response, Italy and France have been seen as the leading countries taking the quickest moves to react to the situation, with their health systems almost immediately taking current medications on the market for condi ons that they felt had a similar molecular structure such as HIV, Malaria and other an -viral drugs and tes ng their effec veness. France pioneered this through the use of a trial on the drug Hydroxychloroquine that passed various studies and was subsequently praised as a treatment by American president Donald Trump. Other drug treatments involved the same protocol, only in different samples with the World Health Organisaon choosing to conduct their own personal tes ng in Norway. The United Kingdom eventually led the way in trials with the strong research and development facili es na onwide, including a partnership
with pharmaceutical giant Astra Zeneca and Oxford University which among others was assisted by the poor governmental response to the ini al outbreak meaning a strong volunteer response. In June, the world’s first recognised coronavirus treatment was approved by both the Na onal Health Service and the Bri sh government through the use of Dexamethasone, which was believed to dispel the effec veness of the Hydroxychloroquine usage. Europe’s eventual strong response allowed it to amass an extensive list of countries such as France who were able to provide a quick logis cal supply of treatment to afflicted ci zens. Germany was ranked number one globally for treatment effec veness due to its strong health care system that relied on regional transporta on and administering policy whilst refusing to allow any medical equipment that may be of use from leaving its borders. More surprising countries also proved very effec ve in their methods, with Iceland having been already prepared for
