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Increasing security of supply for critical medical and pharmaceutical goods in the EU: Lessons from the COVID-19 pandemic

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  • Grumiller, Jan
  • Grohs, Hannes

Abstract

This Briefing Paper examines the resilience of the medical product and pharmaceutical global value chains. Based on this assessment, policy recommendations are presented to increase supply security, including measures to improve the resilience of supply chains, and to expand stockpiling. We also highlight that industrial policy measures to promote reshoring should play a more important role, and that coordination on the EU-level is necessary. Given the large differences between products and supply chains within and between sectors, policies need to be tailored to specific products and product groups. Finally yet importantly, repercussions of EU policy on the Global South also need to be taken into account.

Suggested Citation

  • Grumiller, Jan & Grohs, Hannes, 2021. "Increasing security of supply for critical medical and pharmaceutical goods in the EU: Lessons from the COVID-19 pandemic," Briefing Papers 29, Austrian Foundation for Development Research (ÖFSE).
    • Handle: RePEc:zbw:oefseb:29
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    References listed on IDEAS

    as
    1. Peter Kedron & Sharmistha Bagchi-Sen, 2012. "Foreign direct investment in Europe by multinational pharmaceutical companies from India," Journal of Economic Geography, Oxford University Press, vol. 12(4), pages 809-839, July.
    2. Jan Grumiller & Hannes Grohs & Christian Reiner, 2021. "“Increasing the resilience and security of supply ofproduction post-COVID-19” - The Case of Medical and Pharmaceutical Products," Working Paper Reihe der AK Wien - Materialien zu Wirtschaft und Gesellschaft 216, Kammer für Arbeiter und Angestellte für Wien, Abteilung Wirtschaftswissenschaft und Statistik.
    3. Busfield, Joan, 2020. "Documenting the financialisation of the pharmaceutical industry," Social Science & Medicine, Elsevier, vol. 258(C).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    supply chain resilience; reshoring; pharmaceuticals; medical products; COVID-19;
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