How a strong pharma chapter in TTIP will benefit the EU

The Transatlantic Trade and Investment Partnership Agreement (TTIP) promises great benefits for EU companies and citizens and for the individual EU economies. The benefits from TTIP are significant because the pharmaceutical industry has a strong economic footprint on the EU economy. The pharmaceutical industry brings value to the EU economy by:

Ensuring good market access to foreign markets is critical to continued export growth and job creation in the pharmaceutical industry and related industries. While there are virtually no tariffs on Transatlantic trade in pharmaceutical products, US non-tariff barriers remain high and impose a cost burden to EU pharmaceutical companies equivalent to a tariff of 19 per cent.

Consequently, an ambitious pharmaceutical chapter that aligns regulatory regimes across the Atlantic and reduces unnecessary duplicative costs will reduce such barriers and deliver benefits from TTIP to companies and citizens throughout the EU. Our study finds that an ambitious pharmaceutical chapter in TTIP:

The study is commissioned by EFPIA