Pharmaceutical innovation delivers €430 million economic gain for Greece

The European Federation of Pharmaceutical Industries and Associations (EFPIA) released a study covering 29 European countries that examined the social and economic returns of new medicines from 2014‑2024. Across Europe, an €11.67 billion investment in innovative drugs generated more than five times that amount in benefits, amounting to €66 billion, including over €9 billion in hospital‑cost savings.

In Greece, the study found that a €93 million investment in innovative medicines produced €557 million of total value. This translated into 25.6 thousand life‑years saved for 313 people, a reduction of 252.4 thousand hospital days and the release of 691 beds for a full year—over 70 % of the General Hospital of Athens' capacity. Economic gains included €430 million from higher productivity (about 0.2 % of Greece’s GDP) and €127 million saved from fewer hospitalisations (around 1.5 % of national pharma spending). The analysis showed a return of roughly €6 for every €1 invested in Greek drug innovation.

Researchers call the findings evidence that under‑investment in health is a false economy, urging policymakers to recognise pharmaceutical innovation as an investment and to ensure timely patient access to new therapies.