Life Sciences and Biotechnology - the European Commission's Strategy for Europe

Originally published June 2004

Last month, the European Commission (the "Commission") produced its second report on the implementation of its 2002-2010 Strategy for Europe on Life Sciences and Biotechnology. The 2002-2010 Strategy for Europe set out a road map to 2010, recommending actions from the European Union institutions and well as other public and private stakeholders. The latest report highlights the progress that has been made on the Commission's plan to transform policy into action and indicates those areas where improvement is still necessary in order to strengthen the competitive position of the European biotechnology sector.

COMPETITIVENESS OF THE EUROPEAN BIOTECH SECTOR

Life sciences and biotechnology are amongst the key growth technologies for a more innovative and competitive Europe. Although the performance of small and medium-sized European biotechnology companies is comparable to their US counterparts, there are far fewer medium- sized biotech companies in Europe compared to the US. This is thought to be partly attributable to difficulties with financing in Europe.

Different Member States have adopted different measures in order to address this problem. Some have introduced fiscal benefits, some are encouraging inward investment, while others are promoting technology transfer. Tax breaks and better research conditions are also being introduced in other Member States to encourage "brain gain" by making the European Research Area more attractive for scientists.

Three main areas have been identified for attention by the Commission at national level in order to improve European competitiveness:

Protecting intellectual property rights;

Boosting finance, liquidity and capital markets in Europe; and

Research funding through public/private partnerships.

INTELLECTUAL PROPERTY...