Outlook in Europe
The European Commission has recognised that the biotech sector is vital to the regional economy and environment for innovation.
It has committed to creating conditions that will allow biotech companies to prosper and be competitive (16). Part of the
Commission’s role is to coordinate with member states to fulfil these objectives. However, in the current economic environment,
some national governments, such as France, appear to be wavering in their support for the sector. European biotech companies
also need external support from investors, which has been proven difficult to achieve.
While regional analyses paint a depressing picture of the biotech sector, many argue that this view does not represent the
whole story for Europe. For example, despite many companies struggling because of the tough economic environment, the UK is
believed to have a positive outlook. The UK government has publicly stated its support for the biotech sector and companies
are attracting direct interest and funding from major pharmaceutical companies. If a new generation of UK biotech firms can
mature in the current operating environment, it will give hope to other ambitious companies in the European sector.
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www.pharmatimes.com, accessed 27 Feb. 2013.
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27 Feb. 2013.
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15. European Commission website, “Enterprise and Industry: EU Biotechnology Policies,” www.ec.europa.eu, accessed 27 Feb.