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Europe’s Big Pharma Sails On Serenely Despite Choppy Economic Waters

 
• By Kevin Grogan

The continent's pharmaceutical sector enjoyed another robust quarter with increased productivity, and price increases, softening the blow of rising energy costs and other challenges across the supply chain.

Sailing
• Source: Shutterstock

Europe's pharmaceutical majors managed to post decent financials for the second quarter of 2022 and did not seem overly concerned about the rise in rhetoric across the Atlantic concerning future US drug pricing rises. The tough macro-economic backdrop, with inflation on the rise and recessions looming across the continent, failed to have much of an impact either.

At Novartis AG, chief financial officer Harry Kirsch addressed growing concerns about the prospect of a global recession, noting that "usually the pharma and generics sector are quite robust

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