The European Federation of Pharmaceutical Industries and Associations (EFPIA) have just released a report that they commissioned PwC to produce on the economic and societal footprint of the pharmaceutical industry in Europe.
Our analysis estimates that, in 2016, 2.5 million jobs were supported by the pharmaceutical sector, with the average Gross Value Added per employee significantly higher than that of other key sectors at €156,000. The activities of the pharmaceutical industry directly contributed nearly €100 billion to EU economies in 2016, with an additional €106 billion provided through the supply chain and employee spending.
Importantly, the report also provides an analysis of the impact of new medicines on patients’ lives, looking at indicators such as gains in healthy life years and ability to work, across selected disease areas.
Global Pharmaceuticals and Life Sciences Industry Group
The Global Pharmaceuticals and Life Sciences Industry Group at PwC is dedicated to delivering effective solutions to the complex business challenges facing pharmaceutical and life sciences companies.