New EMA report emphasizes importance of SMEs in pharma innovation

The European Medicines Agency has published a report summarizing the experience with its small and medium-sized enterprise (SME) initiative over the last 10 years. The initiative started in December 2005 when the SME Regulation came into force and the SME Office was established to address the needs of the smaller actors in the pharmaceutical development ecosystem.

SMEs are the backbone of Europe's economy. They represent 99% of all businesses in the European Union and provide two-thirds of the total private sector employment. In the pharmaceutical sector SMEs are the motor of innovation and play a major role in the development of new medicines for patients.

The new report emphasizes the importance of SMEs in pharmaceutical innovation and draws attention to the trends observed in the past 10 years.