We believe that it is our responsibility to ensure patient access to innovative medicines and treatment as well as to contribute to the economies and the societies in which we operate. In order to do so in Europe, we commit to conducting a significant share of clinical research within the continent. Many of our signatory companies already do this thanks to the scientific and medical excellence of many European countries such as the UK, France, Belgium, and The Netherlands. So, this is a trend we intend to continue and accelerate. In 2020, the European biopharma market was valued at €36 billion and was estimated to have an annual growth rate of over eight percent, reaching a value of over €55 billion by 2025.[i] As we continue to invest, this will increase even more greatly and will continue to strengthen the European life sciences sector. [i] Market Data Forecast, ‘Europe Biopharmaceuticals Market Research Report’, February 2020 (link). Data corrected from USD to EUR.