Europe loses pharma R&D share to US tariffs and China's biotech rise, risking investment and drug launches.

Europe's share of global pharmaceutical research and development has halved over 35 years, dropping from nearly 50% in 1990 to 26% today, as US trade policies and China's biotech boom draw investments away. US tariffs and drug pricing reforms pressure European markets, while China emerges as a key innovation hub, now accounting for nearly a third of the global drug pipeline. This shift threatens Europe's competitiveness, drug availability, and economic benefits from pharma, prompting calls for increased spending, regulatory reform, and faster drug access to retain industry investment and innovation.