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Sanofi (France) (SAN.PA) CEO: EU Open Data Plan Would Hurt Drugmakers


6/24/2013 7:55:48 AM

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A decision by Europe's drug regulator to release detailed data on drugs once a medicine is approved could discourage critical investment in crisis-hit Europe, Sanofi's chief executive said.Chris Viehbacher, who took over as president of the European Federation of Pharmaceutical Industries and Associations (Efpia) on Monday, said companies would invest in regions where they felt welcome. "If you, on the other hand, say, 'you guys are bad actors, we want to cut your prices, we want to take your confidential data and share it with any one of your competitors', you don't get the same feeling of encouragement," he told reporters. The controversy over clinical data transparency compounds a situation where drugmakers are already reluctant to invest in Europe because of a wave of austerity-driven cuts in drug prices.

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