Brief – Bioindustry urges EU to cut red tape

The potential high social and economic benefits resulting from the
biotech innovations are “on ice” due to the long regulatory
processes for the approval of new products, says European
bioindustry.

The results of the first scientific study on the
impact of biotechnology-driven medicines on the life expectancy and
quality of life of patients were announced in a press
conference on 10 February 2005. The results of the BioImpact study are
promising. Namely, biotech:

• offers new and more efficient treatments
  for diseases which are either poorly treated or not treated at
  all. 
• increases product safety
  (medicines). 
• enables large-scale production techniques
  for better medical coverage.
• leads to better targeted
  therapies reduce side effects and
  improves on existing treatments (diabetes,
  cancer).  

Biomedicines and other biotechnologies account for a constantly
growing share (currently around 50 per cent) of innovative
medicines. More than 60 per cent of biologic drugs are
made in the US, which also has the highest penetration rate of
these drugs. “To preserve its independence in healthcare, Europe
needs to remedy the increasing gap between the EU and the US in
investing in biotechnologies,” urges Europabio, the
association of European bioindustries.

At the press
conference unveiling BioImpact, representatives
of European bioindustry pushed for a fast-track for
innovative product registration and approval in Europe. In
addition to “cutting the red tape”, the “wish-list” of the European
bioindustry, presented by EuropaBio, includes
a “biotech ombudsman” to give better
guidance to Biotech industry and the creation of a European
stock market for the high growth potential innovative
companies.

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