European Medicines Agency Provides Broad Support to Small and Medium-Sized Pharmaceutical BusinessJul 5th, 2017
In May 2017 European Medicines Agency (EMA) released an annual report on the feedback from supportive measures of small and medium-sized businesses (SMEs) in 2016. It also includes the characteristics of created platforms required to advance innovative technologies and management strategies of the pharmaceutical industry in Europe.
Within 2017 and 2020 EMA will be taking a range of measures to support manufacturers in the production of new drugs for humans and animals. As of today, the action plan for the innovation advancement has been published. The plan includes a detailed description of 16 activities.
According to EMA, small and medium pharma companies which constitute nearly 99% of all enterprises in the European Union make a solid foundation for the EU economy. They employ two-thirds of the private sector population. In particular, for the pharmaceutical sector, SMEs are an innovation leverage that initiates the development of a diverse range of medicines.
The objective of EMA’s Small and Medium-Sized Enterprises Office (SME) is to provide support to this type of entrepots at all stages of their development, including administrative, regulatory and financial assistance. To date, EMA has helped to register more than 1,700 companies which develop and produce pharma products for veterinary and humans.
The EMA plan offers new business solutions covering four main areas of pharmacy. They are the following: support of the innovative medicines development; awareness-raising campaign on the EMA’s initiative to assist small and medium-sized businesses; training and education; cooperation with the SMEs, the stakeholders and partners in the European Union.
Modern technology and innovations are impossible without the formulation of new principles of cooperation between business and research institutions, where the last are essential for the introduction of pharmaceutical innovations. Thus, these principles serve to strengthen the interaction of both parties and result in the establishment of a new European Innovation Network.