What way for pharmaceutical innovation in Europe?

I write my column Cure for What Ails EU in TCS Daily on 21 June 2005.

Innovation is still moving rapidly, but regulatory costs are also skyrocketing

In Making Immunity More Than Skin Deep I described the troubles of the pharmaceutical industry when it comes to producing vaccines. In fact, things are going in the wrong direction for the pharmaceutical industry in general. New drugs that will finance future research and development are not reaching the market as quickly as they used to, and the cost of developing new drugs is steadily increasing.

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