What are the pharma chairs warning about?

That Europe is losing ground in biopharmaceutical research and investment. They cite Europe’s share of global pharma R&D falling from 43% in 1990 to 31%, its share of commercial clinical studies halving to 9% in a decade, and the US and China drawing over $600B in pharma investment in two years.

What do they want governments to do?

Speed up clinical-trial processes, strengthen intellectual-property protections, adopt “sensible digital policies,” and provide fiscal flexibility — and, more broadly, treat medicines as a valuable investment rather than a cost to suppress.

Why does where biotech happens matter?

It influences who gets early access to new medicines, where high-value jobs and expertise concentrate, and which regions shape the scientific agenda. A sustained decline would have compounding economic and health consequences for Europe.

Nine European Pharma Chairs Warn of Biotech Decline in Open Letter

In a rare joint letter, the chairs of Europe’s biggest drugmakers say the continent’s share of pharmaceutical research and investment is sliding — and urge governments to act before the decline becomes permanent.

In an unusual show of unity, the board chairs of nine of Europe’s largest drugmakers have issued a joint open letter warning that the continent is losing the global biotech race — and calling on governments to change course before the slide becomes irreversible.

Who’s sounding the alarm

The letter, published September 23, 2026, was signed by the chairs of AstraZeneca, Boehringer Ingelheim, Chiesi, Ipsen, GSK, Novo, Novartis, Roche and Sanofi — a roster spanning much of Europe’s pharmaceutical heft. When companies that compete fiercely align on a public message, it’s a signal that the concern is structural, not parochial.

The numbers behind the worry

The chairs marshaled stark figures. Europe’s share of global pharma R&D has fallen from 43% in 1990 to 31% today. Its portion of commercial clinical studies has halved in a single decade, to just 9%. Meanwhile, the U.S. and China together drew more than $600 billion in pharmaceutical investment over the past two years. And the competitive pressure is intensifying: China has announced a five-year plan targeting 25% of the world’s first-in-class drugs. “In our boardrooms, we see Europe losing ground to global competition,” the leaders wrote.

What they want

The executives laid out a policy wish list aimed at making Europe more attractive for drug development: faster clinical-trial processes, stronger intellectual-property protections, “sensible digital policies,” and fiscal flexibility for member states. Underlying it is a plea to change how governments think about medicines — to stop treating them “as a cost to suppress rather than one of the best investments a government can make.”

Why it matters

Where biopharma innovation happens shapes who gets early access to new medicines, where high-value jobs are created, and which regions set the scientific agenda. Europe was long a powerhouse; a sustained slide would have economic and health consequences that compound over time. The letter is also part of a familiar tension: industry warning of decline while lobbying for friendlier policy — so the specific asks deserve scrutiny. But the underlying data on Europe’s falling share are hard to dismiss.

The framing

Notably, the chairs cast the moment as a choice, not a fate: “Europe’s story does not have to be one of decline and dependency; it can be one of renewal and resilience.” Whether policymakers respond — and whether the industry’s prescriptions are the right ones — will determine which story unfolds. Business and policy news, not investment advice.

This article is for general information only and is not medical advice. Consult a qualified healthcare professional for any medical decisions.

Nine Pharma Chairs Warn Europe Is Losing the Biotech Race