Pharmaceuticals and the EC/EU

Abstract

Medicines are very big business. After staff costs medicines account for more of the expenditure of EU medical-care systems than any other budget heading. And pharmaceutical research, medicines manufacture and sales can all be presented as European economic success stories. It is little wonder that the EU and its Commission are deeply involved with pharmaceuticals. The EEC was, after all, established to promote a common market for European manufactures and the manufacture of medicines is an important and successful economic activity in the EU. Of course it is important to appreciate that the word medicines describes not only prescription drugs, which are the principal focus of this chapter, but also the (allegedly) therapeutic substances which are bought and sold, without a prescription, over many a retail counter throughout the EU. They also make a major contribution to the economic well-being of the EU.