EDITOR’S DESK

intensive countries – such as India and China.

European drug manufacturers are also warning they may stop making some of the cheap generic medicines. Generic drug pricing is reduced by 80-90% from patented drugs, and these small profit margins are not able to absorb the extent of inflation pressures - despite the fact that generics account for about 70% of all dispensed medicines in Europe. A recent Teva report found that the breast cancer drug, tamoxifen, was halted due to the sole European API producer stating that it was no longer economically feasible to manufacture. With drug shortages headlining the news at the end of 2022, who knows what this could mean for supply chains down the line of 2023?

On the upside however, pharma is no newbie to providing innovative solutions in unprecedented circumstances. Take the pandemic, for example.

Vaccines were rolled out in a matter of weeks compared to the typical vaccine development timeframe of 5-10 years. Meanwhile, the pharma industry donated over 29 million doses of essential medicines to Ukraine and its neighbouring countries in 2022. I think it’s in examples like these where the pharma industry shines in its resiliency and efforts, to identify and commit to alternative solutions during uncertain times.

As stated by Matt Watson, European Manufacturing Sector expert at Aggreko Europe: “the pharmaceutical industry cannot stand still.”

This is true in the sense that doing nothing and continuing to act in the same way will yield a bigger cost than investing in alternatives. I believe 2023 will see a lot more news surrounding energy consumption, carbon footprint and sustainability.

Problems activate new ways of thinking. With an industry as large as pharma, even incremental changes can make a big step towards a sustainable future.