Bayer has said it is shifting the focus of its pharmaceutical business to the US and away from Europe and the UK, where governments are making “big mistakes” in how they manage health budgets.
Stefan Oelrich, head of the German conglomerate’s drugs business, told the Financial Times that Europe was becoming “innovation unfriendly” because policymakers were making it more difficult to generate commercial returns on their investments. The expansion of a medicines levy in the UK designed to limit the NHS’s drugs bill and similar schemes in Germany were dissuading investment, he added.
“Europe is making some real big mistakes,” he said during an interview at the JPMorgan Healthcare conference in San Francisco, California.
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