Regulatory Focus - The Race to Innovate
This article was originally published in SRA
Executive Summary
The term innovation has been used lately at pharma conferences to describe a way in which countries can achieve greater economic growth and prosperity. In Europe, this is symbolised by the Lisbon Agenda which calls for substantial increases in research and development spending in the European Union by the year 2010. The commission and member states are currently mulling over how to allocate money for programmes included under their 7th research framework, while in the US talks are ongoing about providing public money for the Food and Drug Administration's critical path initiative. Meanwhile, a lot of fundamental medical research appears to be taking place in India and China but there is very little information about how this is being financed.