Marjorie Chorlins, Senior Vice President for Europe at the U.S. Chamber of Commerce, issued the following statement today regarding the political agreement reached between the European Parliament and Council on the EU’s General Pharmaceutical Legislation (GPL), the first major overhaul of medicines law in more than two decades.
“This agreement falls short of creating the conditions needed for Europe to boost its competitiveness in life sciences innovation. Reducing protections undermines the system that drives research and development and detracts from Europe’s own aspirations to be a leader in life sciences innovation. The legislation further tilts the playing field against American innovators, injecting uncertainty which in turn discourages investment. Europe must ensure its regulatory framework supports rather than discourages investment in medicines.”
“Despite efforts to improve on the Commission's flawed original proposal, the final outcome nonetheless weakens the EU’s intellectual property framework, further discouraging investors at a time when Europe seeks to position itself as a global hub for life sciences. Strong and predictable IP incentives are essential to achieve the EU’s competitiveness and innovation goals - and to sustain U.S. investment.”
