Greek Prime Minister Kyriakos Mitsotakis said his country hopes to attract more investments from global pharmaceutical companies to foster innovation in life sciences and further creation of Greek intellectual property.
Mitsotakis was speaking at a meeting with heads of pharmaceutical companies and organizations in Athens last week. The conversation inevitably turned to the controversial intellectual property protection clauses proposed in the EU’s new Pharma Package.
Kyriakos Mitsotakis, who was supported by almost half of the cabinet, met for about two hours at the Prime Minister’s Maximos residence with CEOs of companies and associations and members of the International Federation of Pharmaceutical Manufacturers and Manufacturers (IFPMA).
“The government has definitely supported entrepreneurship in the health sector, which has strengthened innovation and research and development. And we are seeing clear results,” said Prime Minister and former Deputy Health Minister. Speaking to Euractic, Vasilis Kontozamanis commented on what makes Greece attractive for investment.
Alberta Bourla, CEO of Pfizer and president of IFPMA, praised Greece’s “resolute support for innovation.”
“At a European level, it is one of the countries that we feel has a very clear position on important aspects of promoting innovation, such as access to intellectual property and medicines,” he added.
“The conference demonstrated the opportunities that biopharmaceutical research presents and the value of innovation for patients and the European healthcare system,” Michalis Himonas, Secretary General of the Greek Pharmaceutical Manufacturers Association SFEE, told Euractiv.
Opportunities for a scientific renaissance in Europe
Bourla said the world is reaching a scientific breaking point, with research progressing towards innovative treatments that require huge investments.
“We are on the cusp of a ‘scientific renaissance.’ Advances in biology and technology will see significant medical innovation over the next decade. Of course, this will require significant investment. We connect,” Bourla commented.
But for now, most of the investment is on the other side of the Atlantic.
“At this stage, the majority of these investments remain in the US. Twenty years ago, the difference in investment levels between the US and Europe was about $2 billion, so it’s about the same. It will be over $50 billion. I think this is a missed opportunity for Europe,” he commented.
Protecting the patent ecosystem
As reforms to the Pharmaceutical Affairs Law are being debated in Brussels, the implications of decisions made regarding pharmaceutical research and related investments were at the center of discussion at Maximos Mansion.
Bourla pointed out that “pro-innovation policies, especially the protection of intellectual property,” play an important role when the pharmaceutical industry considers investments.
“In our case, most of our investments are translated into formulas on paper. Whether we need to make these investments or not is very important. Someone needs to feel it,” he added.
Mitsotakis commented that “issues related to European competitiveness are at the heart of our campaign rhetoric in light of the next European elections,” adding that not only the government but also the European People’s Party “this issue is of paramount importance.” “We need to make it a priority,” he added. These are our priorities in the next European election cycle. ”
“We are losing competitiveness in Europe, failing to attract cutting-edge investment, and lagging behind leading innovation indicators. This is certainly more pronounced than in the United States, and this needs to be rectified. There is a need to do so.”
“We will definitely put a lot of pressure on other European institutions, especially the European Commission, to focus on these issues,” Mitsotakis insisted.
“The Greek government recognizes the importance of innovation and has taken a clear position in support of the protection of the patent ecosystem in the context of the revised pharmaceutical policy,” Himonas told Euractic.
A few hours later, Greek Health Minister Adonis Georgiadis spoke at the Medicines Control Conference and said the Greek government does not support major changes to patent terms.
“Greece belongs to a group of conservative countries. We are not in favor of major changes in data protection laws. We are concerned that this will severely reduce European competitiveness. ” he said.
Georgiadis also highlighted the effectiveness of providing an additional two years of protection to balance the two-year reduction in baseline RDP (Regulatory Data Protection) for companies launching medicines in all 27 EU countries. expressed doubts about it.
“If someone told me that I could guarantee that in two years they would apply to 27 national medical institutions at the same time and get 27 approvals, I don’t think that would be the case at all,” he added.
investing in greece
To ensure protection from supply chain disruptions, Mitsotakis said the government will “square the circle” by ensuring the public has access to innovative as well as generic medicines at the best possible prices. He spoke about the complex environment in which he felt it was necessary. ”.
But he added: “At the same time, we need to ensure we continue to support innovation and provide companies investing in drug discovery with the predictability they need to allocate significant resources to developing innovative new medicines.” Yes,” he added.
Greece as a hub
“The healthcare sector stands at the crossroads of billions of medical services. [Euro] Kontozamanis added: “The healthcare investment opportunities in Greece revolve around three key pillars: digital transformation, value-based care and patient-centricity.”
In this direction, the government’s goal is for Greece to emerge as a hub in the field of clinical trials, a hub for big data analysis and real-world evidence data, and a manufacturing base for pharmaceuticals.
“We are establishing the foundations that will enable Greece to gain global competitiveness in one or more sectors in 21 countries.cent“The industry of the century based on cutting-edge technology, the biopharmaceutical sector based on innovation,” he added.
But Greece’s pharmaceutical industry is plagued by high clawbacks and profits. In 2023, Greece’s pharmaceutical industry revenue will account for 50% of the total reimbursement market, increasing by 19% year-on-year over the past six years. This issue was raised during a conference in Athens.
“The negative effects of very high clawbacks and rebates were also recognized, and efforts were subsequently made to streamline them and increase predictability on the ground,” Himonas told Euractic.
[By Vasiliki Angouridi, Edited by Brian Maguire | Euractiv’s Advocacy Lab]
