The CEO of the Darmstadt-based pharmaceutical company Merck, Stefan Oschmann, rejects state participation in the pharmaceutical industry. He does not believe “that state equity investments are necessary in this industry,” he told Personal-Financial.com (issue 12/2020, EVT November 19). In the middle of the corona pandemic, the federal government invested 300 million euros in the Tübingen vaccine developer Curevac. Participation had sparked a controversial debate.
Oschmann also opposed high hurdles for foreign investors in the industry. It is “complete nonsense” to believe “that we have to build very high protection mechanisms against foreign investments”. On the contrary, it makes sense to attract foreign capital and the participation of venture capital funds.
According to the Merck CEO, the pandemic has also led to a renaissance of protectionist ideas. “If I am a protectionist, whether from the right or the left, then of course I will also use this crisis to push my theses further,” said Oschmann. He believes attempts to bring the entire added value in drug development back to Europe are unrealistic. “There is a lot of basic chemistry in drug production, all the auxiliary materials that are often manufactured in China and India – trying to bring this back to Europe is an illusion and would create a big problem.”
The interview with Stefan Oschmann appears in Personal-Financial.com 12/2020 (ET November 19). interested in Personal-Financial.com? Here is the Subscription shopwhere you can order the print version. Our digital edition is available at iTunes and GooglePlay