Trans-Atlantic Innovation : Building bridges between the EU and US life sciences industry
EUCOPE's Sounds of Science
EUCOPE
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🗓️ 13 March 2023
⏱️ 44 minutes
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Summary
SOUNDS OF SCIENCE - EPISODE 14
With the passing of the Inflation Reduction Act, significant changes are coming for drug pricing and payment in the United States. At the same time, the upcoming revision of the EU Pharma Package will have a significant impact on the competitiveness and predictability of the EU biopharmaceutical landscape.
There are several gaping differences between the biopharma ecosystems of the US and the EU. For instance, it takes on average 150 days longer to get an innovative medicine approved in Europe than in the US – time that could be crucial for some patients.
To understand what is happening in policy and regulatory developments in both the EU and US markets and how they will impact biopharmaceutical innovation for the foreseeable future, our latest podcast gathers first-hand perspectives from our American counterparts and details how we can work together to build trans-Atlantic bridges for innovation in life sciences.
Our special guests include:
- Justin Pine, Senior Director, International Affairs – Global IP and Data Policy, Biotechnology Innovation Organization (BIO)
- Ben Bradford, Vice President of Economic Development & Workforce, MassBio
- Alexander Natz, Secretary General, EUCOPE
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Transcript
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| 0:00.0 | Hello everybody and welcome back to Sounds of Science, a series of podcasts hosted by |
| 0:08.0 | Yukope, the European Trade Body representing small and mid-sized companies active in health technologies. |
| 0:14.0 | My name is Dante and I'll be your host on today's pod. Before moving forward, I kindly ask you to hit the subscribe button |
| 0:20.0 | and also follow us on Twitter and LinkedIn to stay up to date on all of the latest news and initiatives within the world of European life sciences. |
| 0:29.6 | In August 16, 2022, U.S. President Joe Biden signed the Inflation Reduction Act into law, marking the most significant health care reform since the Affordable Care Act. |
| 0:39.9 | With it, significant changes are coming for drug pricing and payment in the United States. |
| 0:44.9 | At the same time, the upcoming revision of the EU pharma package |
| 0:48.5 | will have a significant impact on the competitiveness and predictability of the EU biofabaceutical landscape. |
| 0:55.1 | There are several gaping differences between the biopharmac systems of the U.S. and the EU. |
| 1:00.1 | For instance, it takes on average 150 days longer to get an innovative medicine approved in Europe than in the U.S., |
| 1:06.7 | time that can be crucial for some patients. |
| 1:09.5 | The EU pharmaceutical industry has long-born |
| 1:11.7 | policymakers that is lagging behind when it comes to innovation and losing its position in the global |
| 1:16.9 | marketplace. It's evident that innovation is today's talking point. To understand what is happening |
| 1:22.8 | in policy and regulatory developments in both the EU and US markets and how they will impact on |
| 1:28.7 | innovation, we've invited two of our partner members from across the pond to give us their |
| 1:33.0 | first-time perspective and touch about how we can learn from each other and build transatlantic |
| 1:37.5 | bridges of innovation for life sciences. |
| 1:40.3 | Today we're joined by Justin Pine, Senior Director of International Affairs, Global IP and Data Policy from the Biotechnology Innovation Organization or Bio. Welcome, Justin. |
| 1:53.0 | Thank you. Nice to be here. |
| 1:55.0 | We also have Ben Bradford, Vice President of Economic Development and Workforce at MassBio. |
| 2:01.4 | Welcome, Ben. |
... |
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