The pharmaceutical industry in Europe is also known for its investment in research and development. In 2020, the top 10 pharmaceutical companies in Europe invested a combined total of over €38 billion in research and development. This investment helps to drive innovation in the industry and ensures that new and effective drugs are continually being developed.
One area of significant innovation in the European pharmaceutical drugs industry is biotechnology. Biotechnology involves the use of living organisms or their products to develop drugs and other medical treatments. Europe has a strong biotechnology industry, with companies such as Roche, Novartis, and Sanofi leading the way in this field.
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