Some of Europe’s largest pharmaceutical companies have expressed concern that the continent is falling behind global competitors like the United States and China in developing new medicines and attracting investment. In a joint letter, the chairs of nine major firms—including AstraZeneca, GSK, and Novo Nordisk—urged European leaders to take action to protect the future of their industry. The letter, titled "Europe Is Losing the Pharma Investment Race – But the Comeback Is Within Reach," called on governments to treat medicines as strategic infrastructure and to restore Europe’s competitiveness in the global pharmaceutical sector. The pharmaceutical industry is considered one of Europe’s most significant postwar achievements, employing millions of skilled workers and contributing to a trade surplus of over €220 billion for the European Union. However, the letter warns that this success is at risk. Over $600 billion in pharmaceutical investment has been announced in the U.S. and China in the past two years alone. According to the European Federation of Pharmaceutical Industries and Associations (EFPIA), Europe’s share of global pharmaceutical research and development has dropped from 43% in 1990 to 31%, and its share of commercial clinical trials has fallen to 9% from 18% in the last decade. China has overtaken Europe in several key areas, including clinical trials, pharmaceutical patents, and the development of new medicines. China’s share of global clinical trials has risen from less than 10% to nearly 30% over the same period. In Europe, only 4% of clinical trials are focused on cutting-edge cell and gene therapies. Additionally, nearly half of newly approved therapies did not reach European patients last year, with an average delay of nearly 600 days. This delay varies significantly by country, ranging from 56 days in Germany to over a year in Romania. The pharmaceutical companies argue that closing the gap in clinical trials could generate €53 billion in economic value and create 82,000 jobs in Europe. They called on national leaders to collaborate in reversing the continent’s declining competitiveness and to treat modern medicines as vital infrastructure, similar to defense or energy. The letter was signed by prominent industry leaders, including the chairs of AstraZeneca, GSK, Novo Nordisk, Roche, Novartis, and Sanofi. It follows a public disagreement last year with the UK government over drug pricing and access to new treatments, which led to an agreement to increase NHS spending on medicines after pressure from U.S. President Donald Trump.