Pharma manufacturing sees wave of investments in Europe

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Over the past three months, the pharma sector has seen a string of investments in manufacturing facilities, especially in Europe. While the European economy lost momentum in 2023 owing to a high cost of living, weak external demand, and monetary tightening, the prospects for growth remain stronger with the EU GDP growth forecast to improve to 1.3% in 2024, according to the European Commission. As economic prospects improve in 2024, major pharma companies are doubling down on investments in European manufacturing infrastructure and jobs to meet strong global demand. While the sector regains momentum, the European Federation of Pharmaceutical Industries and Associations (EFPIA) has expressed concerns about a proposed overhaul of pharma rules from the European Commission, which it worries could harm future investments in the region. For the time being, major pharma companies including Novo Nordisk, Eli Lilly…
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