The European pharmaceutical industry is important for the development of new medicines and the fight against diseases. Due to the increased need for cost efficient procedures and the pressure on public expenditure, the European market for pharmaceutical products is facing more challenges than in the past.
Accounting for some 725,000 direct jobs, this high-technology sector is faced with the following challenges: austerity measures introduced by European governments, rapid growth in the market and research in emerging economies, and migration of research and development activities outside of Europe, plus a new wave of merger and acquisitions in 2015-2016. However, Europe and its ageing population do need further research and innovation, and the development of new pharmaceutical substances and products. The role of the Pharmaceutical Sector network is to build guidance and consensus around a core of critical issues and policies in order to retain and promote decent employment in this key sector. To this end, our activities focus mainly on employment, restructuring, EWCs, demographic change, health & safety, sectoral social dialogue, industrial policy, innovation, digitalisation, etc.
(image: Production of the 5008 dialysis machine at Fresenius Medical Care in Schweinfurt)