Venue: Microsoft Teams
Date: 04/05/2023
Time: 8:30 - 9:30
Dear member of DANISH BIO – DANSK BIOTEK,
I am writing to you regarding the recent policy proposal from the EU on the revision of the pharmaceutical legislation as part of the pharmaceutical strategy. The EU Commission presented its reform package earlier this week, and unfortunately, it contains a range of initiatives that we fear could have a detrimental impact on the continued positive development of the European biotech and pharmaceutical market. You can find more information on the proposal in this link: https://health.ec.europa.eu/medicinal-products/pharmaceutical-strategy-europe/reform-eu-pharmaceutical-legislation_en
One of the initiatives proposed is a revised incentives program, which reduces the IP-protection by two years if a company fails to launch a new drug in all 27 EU member states immediately. We believe that this could be challenging for most biotech companies and could lead to a decrease in data protection and affect both the valuation of companies and their ability to raise capital.
At DANISH BIO – DANSK BIOTEK, we are closely monitoring the situation and working with our national and international partners to secure the European Parliament and member states’ rejection of this part of the legislation. We have also received media coverage on this matter and will continue to fight for our members’ interests. https://borsen.dk/nyheder/virksomheder/biotekbranche-eu-reform-vil-smadre-innovationen?b_source=borsen&b_medium=row_2&b_campaign=news_3.
We will be holding a virtual members’ meeting on Teams on Thursday, May 4th, from 8:30-9:30 to discuss this issue. Martin Dræbye Gantzhorn from Bech-Bruun will provide a preliminary overview of the legal perspective on the proposal, and I will discuss the political effects. This is also an excellent opportunity to ask questions about the proposal. You will receive an invitation shortly, and we urge you to participate and share the invitation with members of your organization.
We understand that this is a crucial matter that is bound to affect most Danish biotech companies in one way or the other, and we are committed to keeping our members informed and advocating for their interests. If you have any questions or comments, please do not hesitate to contact me by mail or phone (4187 0823).
Best regards,
Morten Engsbye
CEO, DANISH BIO – DANSK BIOTEK