Hellenic Association of Pharmaceutical Companies aims at turning Greece into hub for clinical trials
The Hellenic Association of Pharmaceutical Companies (SFEE) is aiming to promote Greece as a hub for clinical trials in a move that would “give fresh impetus both to public health and to the national economy”, it said on Wednesday.
“Clinical trials are a great opportunity, which remains untapped. Greece fulfills all the conditions for attracting investment in clinical research and for increasing this investment threefold within three years, to up to 250 million euros annually. Although some steps have been taken to attract investment, there is still large scope for expansion, which needs to be exploited in a coordinated and structured manner by all the parties involved,” SFEE said in a statement.
To achieve this goal, Greece has to become competitive, which in turn requires rationalizing and optimizing the institutional framework, cutting red tape and speeding up the relevant processes, it added.
More than 75 billion euros are invested every year in pharmaceutical research worldwide and more than 30 billion euros in Europe. Greece’s share in this amount is much smaller than those of other countries of a similar size, SFEE added.