Professor Massimo Florio presented a study on European pharmaceutical R&D 'Could a public infrastructure overcome market failures?' at the European Parliament.
With a focus on research and development in innovative medicines, the study discusses a new European approach to pharmaceutical policy. After examining the European pharmaceutical sector's features, and the strengths and weaknesses of the current research and business model, it explores the need for and the concept of a European infrastructure with a long-term transboundary mission in the sign of a new role for the EU and the renunciation of private companies to exclusive patents. If adopted by the European institutions, it would place Europe as the leading global player in pharmaceutical research.
The research team led by professor Florio included CSIL economist Chiara Pancotti. The study relies on an extensive literature review and a targeted survey of international experts from science, industry, public health, and government institutions. The survey investigated the feasibility of different options in terms of the scope of the mission and legal, organisational, and financial arrangements for establishing such a European infrastructure. The study concludes by presenting a range of policy options.
