The European Federation of Pharmaceutical Industries and Associations (EFPIA) has announced today the Innovative Medicines Initiative 2 (IMI2). This is a 10-year public-private collaboration which aims to speed-up medical breakthroughs urgently needed to tackle the growing healthcare challenges facing Europe.
The initiative brings together large private companies, universities, public laboratories, innovative SMEs, patient groups and regulators in recognition that no single organisation can individually respond as quickly and effectively to the challenges of growing areas of unmet health need, and the rapidly increasing risks and costs involved in developing new medicines and vaccines.
The aim is to, together, develop the next generation of vaccines, medicines and treatment, support the faster roll-out of effective and sustainable healthcare, leverage public and private research funding to lower investment barriers and, ultimately, support the global competitiveness of Europe’s pharmaceutical industry.
These commitments are very welcome, and they are particularly timely given the publication of yesterday’s report from the Office of Health Economics on The challenges and economics of drug development in 2022. The report highlights the need for innovation to become more collaborative in future, bringing together a diversity of private and public partners.
The existing IMI partnership has already given rise to some leading innovations, including faster development of new diabetes medicines, new models to predict medicine toxicity, a new understanding of severe asthma, and the world’s largest database of schizophrenia studies to use as the basis of developing more targeted treatments – as well as a wealth of further research and academic publications.
This is an incredibly impressive achievement and testament to the benefits which greater collaboration can bring. I am confident we can achieve yet more from this latest initiative and I will be giving it my full support.
ABPI Chief Executive