The New European Industrial Policy and the Case of the ‘Pharmaceuticals and Biotechnology’ Industry

Abstract

During the first two decades of the twenty-first century, industrial policy regained progressively its prominence on the European scene. But what kind of policy are we talking about? This paper tries to answer this question by looking at the approach that the EU—and, in particular, the European Commission—developed between 2002 and 2021. In this context, the EU’s ‘new’ industrial policy is one in which a central position is occupied by the increase of knowledge-based investments and the development of enabling technologies; these two priorities have become quite critical now that manufacturing has made a come-back and is reclaiming its vital role in advancing vibrant economic growth.