Private equity-owned German pharmaceutical group Stada has attacked “protectionist” moves by the EU to shift medicine manufacturing to the bloc from Asia and says it will continue to source and sell globally.
Peter Goldschmidt, chief executive of Stada, which makes generic drugs and consumer health products including Savlon antiseptic, told the Financial Times: “There is a big debate about bringing production back to Europe. This discussion is driven by protectionism. It is not a solution.”
The EU is drawing up plans to increase domestic medicine production after the coronavirus pandemic revealed its reliance on imports. India and China provide 90 per cent of the underlying active ingredients for EU drugmakers, according to the industry.