European Industry Research Articles

European Pharmaceutical Industry Medical Information: A Role to Play in the Provision of Medicine-Related Information to Patients.

European pharmaceutical companies have a professional and legal obligation to provide objective, factual and non-promotional medicine-related information to both healthcare professionals (HCPs) and patients on request and have establishedMedical Information services to fulfil this need. Also, medicines are supplied with a package leaflet for patients and/or users-this usually includes the contact details for the company's Medical Information service. There is a large scale of patient enquiry interactions across the European region. A survey conducted in 2021 by the Medical Information Leaders in Europe (MILE) association revealed that 21% of all enquiries managed by Medical Information services in 2020 were from non-HCPs. Eighteen companies collectively managed over 140,000 non-HCP enquiries-while supporting so many patients, this is also a potentially rich source of insights to real-life patient experiences. When interacting with patients, companies are cautious not to interfere with the relationship between the patient and their HCP. This can limit the information provided, with many being referred to their busy treating physicians. Unfortunately, this approach can fall short of patients' expectations or needs. MILE recognises the potential to be more helpful and companies are keen to evolve to deliver more patient-centric support. MILE member companies have collaborated in the collation and publication of best-practice principles for handling unsolicited requests for medicine-related information from patients, caregivers and members of the general public (MOPs). This will help improve accessibility to quality information support, harmonise the patients' experience and build confidence in the pharmaceutical industry services. MILE continues to invite stakeholders, including patient associations, HCPs, pharmaceutical companies, regulators and national industry associations to engage and help advance these core principles for handling patient enquiries. This publication does not constitute legal advice; decision making and accountability remains with each pharmaceutical company.

DIGITAL PLATFORMS AS A CONDITION FOR INCREASING INNOVATION AND COMPETITIVENESS OF SMALL AND MEDIUM ENTERPRISES IN THE EU

The purpose of the study is to consider the potential of digital platforms as an environment for the formation of new types of relationships to promote the development of innovation and competitiveness of small and medium-sized enterprises in the EU. The main goal of digitalization, as defined in the normative documents of the European Commission, is to improve the use of the potential of information and communication technologies to promote innovation, support economic development and stimulate scientific and technological progress in general, and ultimately contribute to the formation of “smart”, sustainable and inclusive growth of the region’s economy A set of important measures is already being implemented and developed. Among them, the creation of a single digital market, which is considered as a primary goal of the European Commission strategy to ensure guaranteed access to online activities for citizens and businesses in a fair competitive environmen. Measures are being taken to reduce the cost of intercountry shipping of goods purchased online, the prices of which are 3-5 times higher than those for transactions carried out within individual countries. In order to enable the digital transformation of European industry and services, particular attention will be paid to the development of cross-sector, integrated digital platforms and large-scale pilot platforms for experimentation and co-creation with users. We define a digital platform as an organisation that offers digital services facilitating interactions between two or more different but interdependent groups of users (suppliers and individuals) via the Internet and that generate network effects. The following are characteristics of a systemically important digital platform: operating in a majority of EU countries; having significant influence on the internal market, namely the annual turnover of a group of companies; the ability to connect a large number of users with a large number of suppliers of goods (services), namely more than 45 million monthly active users located in the EU, or more than 10,000 commercial users located in the EU in the last financial year); having established economic power and stable income from intermediary services provided in the EU. In the presence of indirect network effects, the volume of demand for the platform's services will depend, among other things, on the price level and the economic model of the ecosystem. Also, when developing the EU draft law on digital markets, the European Commission, while formulating the characteristics of digital ecosystems (large digital platforms), noted the importance of having a plurality of digital services. The concept of a digital ecosystem should not include digital platforms with a single service. The digital nature of the ecosystem allows it to quickly introduce new functions and integrate data across multiple unrelated business lines and markets. These factors allow the ecosystem to avoid the traditional costs associated with rapid business expansion, both vertically (by using its services in new markets) and horizontally (by expanding the “range” of services). The digital platform uses information about the sales of suppliers on its platform to research the market and develop its own line of competing products. In this regard, the company can be accused of promoting its own products in this way. These features of the functioning of digital platforms determine the need to revise the criteria for compliance with the principles of competition. As a result of processing the user habits of citizens, the ecosystem issues a personalized offer. The consequence of this may be price discrimination, when some customers are offered more expensive goods than others, depending on their purchasing power. In this regard, it is proposed to oblige platforms to disclose the principles of such pricing. Disclosure requirements and pricing transparency are effective mechanisms for regulating the existing problem, since they increase consumer awareness, facilitate price comparison and prevent consumers from being misled. However, experts note that disclosure of pricing rules can weaken competition in the market and increase the overall price level. This measure can also lead to a lag in the development of recommendation services in the global market, a violation of commercial secrets, additional costs and a slowdown in the development of digital platforms.

Factors affecting the feasibility of post-authorisation RCTs for conditionally authorised anticancer medicines: a multistakeholder perspective from a qualitative focus group study

ObjectiveThe collection of comprehensive data from post-authorisation trials for conditionally authorised anticancer medicines is frequently delayed. This raises questions about the feasibility of post-authorisation randomised controlled trials (RCTs) that aim...

Factors influencing business model change: a case study for the European crop protection industry

PurposeThis paper proposes a theoretical framework for the comprehensive study of business model (BM) change by taking different types of influencing factors and different levels of analysis into account (business, industry and macro-environment).Design/methodology/approachEvaluation of the added value of using the combination of three existing frameworks (the business model canvas (Osterwalder and Pigneur, 2010), Porter’s five forces framework (Porter, 1980) and PESTEL (Johnson et al., 2017)) based on semi-structured interviews with eight companies active in the European crop protection industry. The proposed theoretical framework was used to analyse several BM change situations as presented by the companies.FindingsOur findings reveal that the study of BM change is improved when a third type of influencing factors is considered besides drivers and facilitating/hindering factors. This third type includes factors that shape cohesion between BM components or between the BM and its environment. Second, the interaction of different types of influencing factors at different levels of analysis should be considered, as this generates a comprehensive view of the BM change situation.Originality/valueThis paper meets the demand for a theoretical handle that results in improved and more comprehensive analysis of BM change. The proposed theoretical framework combines different types of internal (business) and external (industry and macro-environment) factors that shape a BM change and considers their interaction.

Incumbent responses to anticipated discontinuous regulatory change: The case of Scope 3 CO2 reporting in the European steel industry

Regulatory change can be highly discontinuous for organizations. Yet, despite the vast discontinuous change and institutionalism literatures, our understanding of incumbent behavior in response to anticipated discontinuous regulatory change is limited. To address this issue, we conducted a qualitative analysis in the European steel industry, which is facing prospective discontinuous regulatory change on Scope 3 reporting. Our findings offer new insights into this understudied field by elaborating on incumbents' expectations for the future, their ensuing motivations, and their taken or planned actions. We find evidence for heterogenous adaptation behavior that manifests in three motivational patterns: Incentives for early movers, reasons for hesitation, and disincentives preventing implementation. These patterns are a result of incumbents’ varying expectations of future circumstances, opportunities, and risks, and they lead to different actions incumbents plan or take in response to the anticipated change. Our study contributes to the theoretical understanding of regulatory change as a distinct form of discontinuous change, sheds light on incumbent behavior at an early stage of a discontinuous change prior to its actual occurrence, and highlights that adaptation to a discontinuous regulatory change can have both positive and negative effects on incumbents. Our process model enables practitioners to make more informed decisions in the context of discontinuous regulatory change and policymakers may use our findings to improve the regulatory design process and subsequent compliance. Finally, our study opens up numerous pathways for future research.

Unveiling business environment and digital entrepreneurial activity in the European tourism industry

Unveiling business environment and digital entrepreneurial activity in the European tourism industry

Can the European nuclear power industry compete with the Chinese nuclear power industry?

European commissioner for the Internal Market, Thierry Breton, told Le Journal du Dimanche in January 2022, “Existing nuclear plants alone will need 50 billion euros of investment from now until 2030. And new generation ones will need 500 billion”. This paper considers whether these values are realistic. Further, it asks whether these investments would yield an internationally competitive European nuclear power infrastructure given that the nuclear power industries in the Organization for Economic Cooperation and Development member countries have lost global nuclear market share to Russian and Chinese firms since 1995.The paper investigates whether the European nuclear industry even with massive investment can compete with the Chinese nuclear industries. It concludes that the European (in particular, the French) nuclear power industry will be unlikely to be cost competitive with the Chinese nuclear power industry unless financing and new plant orders are immediately forthcoming. To achieve carbon neutrality, the issue becomes whether European Union countries can afford indigenous nuclear technologies or will need to import nuclear power plants from Asia.

Central-Eastern Europe as a centre of Middle Ages extractive metallurgy

Central-eastern to southeastern Europe, from Bohemia to Greece is home to some of the richest ore deposits on earth, with archaeological evidence suggesting a long history of metal use. However, the exact timing and extent of past metal processing activities remains unclear. The Middle Ages and Early Modern period (c. 500–1800 common era (CE)) in Europe, saw the expansion of metal use at an unprecedented scale, continent-wide. Here we analysed rates of past atmospheric lead (Pb) deposition in six peat bogs from Romania, Serbia and Greece. We show that after 1000 CE, the redevelopment of central European mining industry was synchronous with Pb pollution in southeastern Europe, with the onset of metal pollution occurring in the area prior to central Europe. Therefore, southeastern Europe may have led regional mining developments, with technological advances rapidly shifting from east to west through the Middle Ages. This indicates how southeastern Europe should be included in future discussions of Middle Age metallurgy not simply as a contributor, but at times as a leader in metal production.

The European Passive Fund Industry: A Darwinian Perspective

The European Passive Fund Industry: A Darwinian Perspective

Decarbonizing European Industry: A Novel Technology to Heat Supply Using Waste and Renewable Energy

This study examines the potential for the smart integration of waste and renewable energy sources to supply industrial heat at temperatures between 150 °C and 250 °C, aiming to decarbonize heat demand in European industry. This work is part of a European project (SUSHEAT) which focuses on developing a novel technology that integrates several innovative components: a Stirling cycle high-temperature heat pump (HTHP), a bio-inspired phase change material (PCM) thermal energy storage (TES) system, and a control and integration twin (CIT) system based on smart decision-making algorithms. The objective is to develop highly efficient industrial heat upgrading systems for industrial applications using renewable energy sources and waste heat recovery. To achieve this, the specific heat requirements of different European industries were analyzed. The findings indicate that industrial sectors such as food and beverages, plastics, desalination, textiles, ceramics, pulp and paper, wood products, canned food, agricultural products, mining, and chemicals, typically require process heat at temperatures below 250 °C under conditions well within the range of the SUSHEAT system. Moreover, two case studies, namely the Pelagia and Mandrekas companies, were conducted to validate the effectiveness of the system. An analysis of the annual European heat demand by sector and temperature demonstrated that the theoretical potential heat demand that could be met by the SUSHEAT system is 134.92 TWh annually. Furthermore, an environmental impact assessment estimated an annual significant reduction of 19.40 million tonnes of CO2 emissions. These findings underscore the significant potential of the SUSHEAT system to contribute to the decarbonization of European industry by efficiently meeting heat demand and substantially reducing carbon emissions.

Drivers and Impact of European Defence Market Integration: A Literature Meta-Synthesis with Economic Focus

ABSTRACT The Ukraine war, the aftermath of COVID-19, Brexit and shifting US geostrategic interests are putting pressure on the European defence situation, strategy and budgets. The current crises expose warfare capability gaps in the European armed forces and capacity constraints of the European defence industry after decades of the peace dividend. More nations are calling for stronger engagement of the EU in the defence sector to overcome these challenges and complete the European defence sector integration that started in the late 1990s. It is estimated that more cooperation in defence procurement and research could save up to 30% of the current €290 bn total EU27 defence budgets. Can this combination of recent factors provide new impulses towards a unified European defence market, more cooperation on defence procurement and industry consolidation? We conducted a literature review (‘meta-synthesis’) of 172 journal articles, studies and think-tank papers since 1995 to build a holistic picture. The analysis aims to describe the progress and challenges of European defence market integration from an economic viewpoint. It provides future researchers with a basic understanding of defence industrial challenges, motivations and economic drivers of European defence integration as well as of reasons for resistance and potential scenarios.

An eco-efficient European metal industry transition towards Circular Economy

The European metal industry can minimize carbon and energy intensity through Circular Economy (CE) solutions in order to achieve the Agendas’ 2030; 2050 targets. This paper evaluates the eco-efficiency in 21 European countries using hybrid window data envelopment analysis (WDEA) across two scenarios. The study compares short- and a meso-term policies by choosing different window widths. Inputs include gross fixed capital formation (GFCF), labor force, and energy intensity value added, with value added as desirable output and carbon intensity value added as undesirable output. Results show that the meso-term policy yields an average eco-efficiency of 47%, while the short-term policy achieves 55%, suggesting that short-term strategies are more effective for the metal industry in reaching the Net-Zero goals. Geographically, Western and Northern Europe exhibit better eco-efficiency than Eastern and Southern Europe. In essence, the European metal industry can reach a Net-Zero status through deep CE transformations in energy and carbon intensity via cleaner production.

Microbiological stability of Hermetia illucens meal subjected to two different heat treatments

The use of processed insect proteins for poultry and pig feed has been authorized since August 2021 (Regulation EU, 2021/1372). It has been already authorized for aquaculture since 2017 (Regulation EU, 2017/893). The adoption of this Regulation has boosted the European insect industry. However, there is currently little information regarding the evaluation of the shelf-life of insect-based feeds. The present work analyzed meals of Hermetia illucens that underwent two different treatments. The first treatment involved pre-sterilization at 80 °C for 2 h, and after that the larvae were subjected to treatment at 65 °C. The second treatment consisting in a heat treatment at 65 °C without pre-sterilization. The analysis performed for specific microbiological parameters, such as presence of β-glucuronidase positive Escherichia coli, Enterobacteriaceae, colony count at 30 °C, Salmonella spp., Listeria monocytogenes, Bacillus cereus, Clostridium perfringens, coagulase-positive Staphylococcus, yeasts and moulds, did not reveal any concerns about bacteria counts or pathogen presence.

A Regulatory‐Developmental Turn Within EU Industrial Policy? The Case of the Battery IPCEIs

The European automotive industry is transitioning from combustion engines to electric vehicles but lags behind international competitors. This geoeconomic competition has contributed to the revival of industrial policy in the EU. However, EU competition policy restricts more vertical industrial policy approaches. In this context, the Important Projects of Common European Interest (IPCEIs) have emerged as a novel governance tool. This article examines this transformation in EU industrial policy by focusing on the Battery IPCEIs. The article includes an in-depth case study of the Battery IPCEIs, using secondary literature and 11 expert interviews. It concludes that IPCEIs represent a gradual regulatory-developmental turn within EU industrial policy by drawing on developmental state theory in a European context, critical EU integration literature, and global production networks research. In response to geoeconomic competition and the region’s lack of productive capacities, the EU is indirectly facilitating the development of European battery innovation and production networks by issuing direct state aid at the national level. However, the EU’s participation in the subsidy race and the global green-tech race via “green” industrial policy indicates only a partial shift in the relationship between states and markets.

Board gender equality and ESG performance. Evidence from European banking sector

PurposeThe purpose of this paper is to investigate the relationship between board gender equality and environmental, social and governance (ESG) performance in the European banking sector. The study examines whether and how the presence of women on the board of directors (BoD) influences ESG dimensions.Design/methodology/approachThe authors analyzed a sample of 72 European Union banks for the period 2015–2021 and developed an econometric model applying unbalanced panel data regression with firm fixed effects and controls per year. To test the research hypotheses, the authors considered gender equality in terms of female participation on the BoD and measured ESG dimensions by using the ESG score provided by Refinitiv.FindingsThe findings suggest a significant positive relationship between the number of women on BoD and the ESG performance of European banks only up to a certain threshold of female directors (at least three women). The study also explores how the proportion of women on BoD influences the individual ESG pillars. The results show that the percentage of female directors has a positive and statistically significant impact on the social dimension of the ESG framework.Research limitations/implicationsThe investigation is highly relevant to investors considering ESG issues in their decision-making process. The overall findings support policymakers and regulators on how to improve ESG performance through the design and the application of corporate governance (CG) mechanisms. From a managerial perspective, the study suggests that managers and CEOs should focus their efforts on establishing the right gender combination of directors on bank BoDs.Originality/valueThis paper offers an in-depth examination of the CG practices of banks, and it attempts to bridge the gap in prior literature on the determinants of ESG issues in the European banking industry. To the best of the authors’ knowledge, this study is the first that investigates the relationship between the representation of women on BoDs and the ESG dimensions measured by the Refinitiv Eikon score. The use of critical mass theory adds a fresh perspective to the literature on ESG in Europe since the influence of board gender diversity on ESG performance of the European banks is still unaccounted for. This study addresses this pressing research issue drawing on resource dependence, agency and legitimacy theories.

Expanding European fossil-based plastic production in a time of socio-ecological crisis: A neo-Gramscian perspective

The global plastics industry is undergoing significant expansion, driven by record-scale infrastructure investments that are increasing fossil fuel demand. However, this growth has largely bypassed Europe, where mature markets, limited feedstock availability, and stringent environmental regulations prevail. Despite these constraints, in 2019 the petrochemical conglomerate INEOS announced plans for a new ethane cracker in Antwerp, the single largest project in the European chemical industry for decades. This unexpected development raises questions about how fossil-based plastic production can expand in a region purportedly transitioning away from fossil fuels. Here, we employ a neo-Gramscian perspective on transitions to analyse the INEOS investment as a case study using both documents and interview data. We trace the processes that facilitated this project, examining developments in the broader fossil fuel economy and INEOS's strategies for accommodating local and global transition pressures. Our analysis demonstrates that the investment represents a case of trasformismo, where limited socio-technical reconfiguration enables the expansion of fossil-based plastic production despite ongoing socio-ecological crises linked to plastics. We conclude that the expansion of plastics production in Europe exemplifies broader efforts to maintain fossil fuel hegemony beyond energy production. This finding highlights the need for strategic approaches that address fossil fuels as feedstock to effectively transition towards post-fossil forms of production.

PSI-16 Evaluation of protein quality of defatted black soldier fly (Hermetia illucens) larvae meal compared with traditional protein sources for dogs and cats

Abstract There is increased interest in the use of insects, such as black soldier fly (Hermetia illucens) larvae meal (BSFLM), as an alternative protein source in pet foods. However, additional information is needed to determine how BSFL protein quality compares with traditional pet food protein sources. Thus, the objectives of this study were to determine the chemical composition, amino acid digestibility, and protein quality of defatted BSFLM in comparison with whole egg powder (WEP) and chicken meal (CM) using the precision-fed cecectomized rooster assay. Fifteen cecectomized roosters (n = 5 per substrate) were randomly allocated to the test substrates BSFLM, CM, and WEP. After 26 h of feed withdrawal, 20 g of substrates were crop-fed and excreta were collected for 48 h. Digestible indispensable amino acid score (DIAAS)-like values were calculated using the Association of American Feed Control Officials (AAFCO), The European Pet Food Industry Federation (FEDIAF), and National Research Council (NRC) reference values for different life stages of dogs and cats. Data were analyzed using SAS Proc Mixed 9.4 with P ≤ 0.05 significance. On a dry matter basis, CM had the greatest crude protein (70.2%), followed by BSFLM (59.8%), and WEP (51.2%). In general, WEP had greater amino acid digestibility than BSFLM and CM. BSFLM (84%) and CM (84%) had comparable arginine digestibility, but less than WEP (92%). Lysine digestibility was greater for BSFLM (80%) in contrast with CM (74%), but less than WEP (91%). DIAAS-like values were calculated, revealing methionine + cysteine as the first limiting amino acids for growing puppies and adult dogs in BSFLM according to AAFCO, FEDIAF, and NRC, whereas for CM threonine was the first limiting amino acid based on AAFCO, and phenylalanine + tyrosine based on NRC and FEDIAF. NRC identified methionine and cysteine as limiting for all test substrates in adult dogs. Methionine and cysteine were limiting for growing kittens for BSFLM among AAFCO, FEDIAF, and NRC. For CM and WEP, phenylalanine and tyrosine was the first-limiting amino acid by NRC and FEDIAF. For adult cats, phenylalanine and tyrosine were the limiting amino acid for BSFLMand CM according to AAFCO and FEDIAF, with NRC identifying it as limiting across all protein sources. In summary, methionine and cysteine and/or phenylalanine and tyrosine were the primary limiting amino acids among the protein sources evaluated. In general, BSFLM had comparable indispensable standardized amino acid digestibility to CM.

The role of human-capital in artificial intelligence adoption

We study the role of human-capital on the early adoption and diffusion of Artificial Intelligence (AI) technologies. We do this using recently released EUROSTAT data on AI-adoption across European countries and industries in 2021. We find that pre-existing differences in human-capital are a key driver of differences in AI-adoption. Our estimates suggest that one-third-to half of AI-adoption is linked to differences in available human-capital across country-industry cells. This relationship holds even when we account for country and industry specific factors. Moreover, higher clustering of university educated workers in firms appears crucial for AI-adoption. This effect is particularly strong for the following AI technologies: (i) those assisting the automation of processes and (ii) those that enable physical movements of machinery. Within firms, human-capital fosters the use of AI in processes associated with production, management and logistics. Despite documenting the automative nature of the AI technologies adopted, we find no evidence for them leading to employment declines (at least by 2021).

Barriers and framework conditions for the market entry of second-life lithium-ion batteries from electric vehicles

Transition to circular economy for lithium-ion batteries used in electric vehicles requires integrating multiple stages of the value cycle. However, strategies aimed at extending the lifetime of batteries are not yet sufficiently considered within the European battery industry, particularly regarding repurposing. Using second-life lithium-ion batteries (SLBs) before subsequent recycling can offer several advantages, such as the development of sustainable business models, the reduction of emissions, and alignment with UN Sustainable Development Goals 7, 12, and 13. Using expert and problem-centred interviews along with an exploratory workshop, this study guides stakeholders in the battery sector by illustrating the necessary changes for a more holistic circular economy. Moreover, an extended political, economic, social, technological, environmental, legal, and additionally safety-related (PESSTEL) analysis approach is carried out, which has not yet been used in this context. In this process, barriers, as well as necessary institutional framework conditions and organisational requirements for a successful market entry of SLB applications are investigated. Among others, key barriers relate to the competition with first-life applications and safety concerns. SLBs require high manual labour costs for repurposing, along with expenses for expired warranties and re-certifications. Ownership structures in traditional business models often result in SLBs and their corresponding usage data staying under the control of the manufacturers. Market viability, however, requires a level playing field for both first-life and second-life operators as well as circular battery and data-sharing business models. Gathering data on the ageing performance and performing improved safety testing according to test protocols facilitates the reliable assessment of SLBs.

Carbon Border Adjustment Mechanism (CBAM) Implementation on Reducing Emission in the ASEAN Energy Sector

Abstract In the context of global efforts to combat climate change and transition towards a low-carbon economy, the European Union (EU) has introduced the Carbon Border Adjustment Mechanism (CBAM) as part of its ambitious Green Deal. This mechanism aims to address carbon leakage from high-emitting industries and ensure fair conditions for European industries. The ASEAN region, as highlighted in the 7th ASEAN Energy Outlook (AEO7) study, is projected to experience a substantial increase in greenhouse gas (GHG) emissions, reaching 6,704 Mt CO2-eq by 2050 compared to a baseline scenario of 1,815 Mt CO2-eq in 2020. Consequently, ASEAN has recognized the urgency to earnestly reduce its emissions in response to the global push for carbon neutrality. The implementation of CBAM by the EU has prompted many countries, including ASEAN Member States (AMS) exporting goods to the EU and beyond, to consider the adoption of CBAM policies. This study examines the potential implications of CBAM for the emission reduction in high-emitting industries in ASEAN (such as cement, iron and steel, aluminum, fertilizers, and electricity generation). The findings indicate that the implementation of CBAM may result in higher product prices for these industries, as they will be required to account for the climate footprint of their manufacturing activities through additional fees. However, it also presents an opportunity for emission reductions within these industries by incentivizing the adoption of renewable energy sources to mitigate their carbon footprint during manufacturing processes. To effectively respond to the implementation of CBAM, the region should adopt three key strategies: 1) active participation in and implementation of carbon pricing mechanisms, 2) increased investments in low carbon technologies, and 3) establishment of strategic partnerships to enhance trade relations between the EU and ASEAN.