Europe's pharma dominance is crumbling. Once controlling nearly half of global drug research, Europe's share has plummeted to just 26% while the U.S. surged to 55%. Trump's aggressive tariffs and drug-pricing policies are pushing pharmaceutical companies to relocate investments elsewhere. Simultaneously, China has emerged as a biotech powerhouse, with Chinese-developed molecules jumping from 4% to nearly a third of the global pipeline in just a decade. European governments now face a critical challenge as companies leverage U.S. uncertainty and Chinese innovation to negotiate harder on pricing and regulations. The continent's fragmented markets and inconsistent reimbursement policies have accelerated this shift, threatening both economic growth and patient access to new medicines across Europe.
