Word: european
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...moment, I found it strange that representatives of the group supposedly ushering in the United States’ moral decay and loss of traditional values would come together to watch a movie about football, America’s rough and tumble answer to that wimpy game where scrawny European boys chase after each other in short-shorts kicking a ball around...
...European pharmaceutical federation, EFPIA, said that the report merely described the landscape of a highly competitive sector, but offered no evidence that competition law had been broken. "The report acknowledges that patents are key to pharmaceutical innovation and should be protected," said EFPIA director general Brian Ager. "Indeed the interim report acknowledges that the industry spends more of its turnover on R&D than any other industry sector in Europe...
...European medicines market is worth over $175 billion. Europeans spend some $275 billion a year on pharmaceutical products - an average of $550 for every man, woman and child. But generic medicines can cost as much as 90% less than branded drugs: total savings gained by copycat drugs entry amounted to at least $17 billion over the 2000-2007 period examined by the Commission. Without these savings, the total expenditure for the medicines would have been more than 25% higher...
...patent system doesn't necessarily help Big Pharma in the long run. Generics account for just over 40% of the market by volume in Europe, against more than 60% in the U.S. But over the past decade, the U.S. pharmaceutical market has grown twice as fast as the European market. According to IMS data, 65% of sales of new medicines marketed since 2002 are generated on the U.S. market, compared to 24% on the European market...
...Commission follows up its report with firm action, this could force European drugmakers to adopt global strategies that go beyond merely stamping on cheap rivals...