Biotech Industry State of the Union Evaluation
EU should put innovation friendly policies back at the heart of their agenda, to benefit from the biotech potential to boost jobs and growth
Mid-way through the current European Commission mandate, EuropaBio issued an evaluation of the EU’s progress on creating an innovation friendly environment, attracting investment and fostering jobs, growth and competitiveness. EuropaBio’s evaluation is forward looking, pointing to achievable, and in many instances non-legislative, ways to reach positive results under this Commission’s remaining mandate. At a minimum, these should include:
- backing at the highest level for an update of Europe’s Bioeconomy Strategy, planned for review in 2017 to create new bio-based markets and ensure cross-policy coherence;
- a holistic and balanced approach for biotech innovation under the current incentives review, preserving or even enhancing the incentives that spurred the unique advancements in medicine that innovation in biotechnology has delivered to patients ;
- an efficient implementation of the existing GMO authorisation system avoiding undue delays in the risk assessment and the ‘comitology’ process.
Other key barriers to achieving this sector’s full potential are presented in the report, with clear recommendations of how to overcome them.