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Their website is working again, which i assume is good news. They say they are starting human trials this year, in Europe.
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That is good news. I was worried that it was more hype. -
It never hurts to be hopeful and maintain a positive attitude. I .wonder why they always do human trials in Europe first. I guess the FDA and other US government agencies are much stricter or they just get to much pressure from the drug and insurance companiesComment
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Europe tends to be a much better place to do business than the USA these days. Whereas the USA has a wide variety of different laws state to state, the EU has harmonised many of its laws country to country. It is therefore easier to do business in two European countries these days than it is to do business in two US states.
Europe also has the advantages of:
1) A more stable currency, despite the recent near bankruptcy of Greece. The Euro has strengthened during the banking crisis and remains relatively stable compared to the USD.
2) A culture that is not litigious. The likelihood of getting sued in the USA is far greater than Europe, despite efforts on the continent to catch up!
3) It is cheap to do business in Eastern Europe because labour is cheap, but at the same time business can be conducted in the biggest and most developed single market in the world.
4) Evangelical people are marginalised. Whereas in the USA any research regarding stem cells has to be abandoned during every election campaign to keep the evangelical nut jobs happy, in Europe these people are so marginalised that we don't care what they think!
5) There will be access to a much bigger market with lower start up costs in Europe.
6) The EU wants to boost its standing in the pharmaceutical industry, so grants and subsidies are more likely.Comment
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1. The Euro is free-falling right now, BECAUSE of the bankruptcy of Greece. You can check it, It's the lowest in a year (1 euro=1.29 dollars)
2-3-4-5-6 True
But...the introduction. I have to disagree. That is how a westerner sees the EU, but I lived in the east of Europe for 22 years (90%) of my life so trust me i know. UE is FAR, no sorry very FAR from harmonizing law. Take Romania and Bulgaria, UE members for the last 3 years. In Romania they don't even have a malpractice law in medicine. I know people who lost dear ones in the hands of incompetent doctors. If you do business in 2 European countries they will both tax you.
But there are bigger issues:
1. Currency-not every country is using Euro (Hungary, Romania, Bulgaria for instance)
2. Mentality: an Englishman thinks different from an Italian. Take that nation-level and you'll see why Germany is not supporting Greece.
3. Language: I can assure you Romanian, Bulgarian, Hungarian, Polish etc -clerks do not speak English.
Sure they translate the laws but any translation is an interpretation.
Dr. Charles gave the answer. It's simple: less strictness, because (I'm sorry to say it) Europe is less organized.Comment
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Eastern Europe is a bit behind because they haven't been in the EU for as long, but it is much more harmonised in Western Europe. The ECJ is the highest court in all member states too, so harmonisation exists through directives at least.
Europe is definitely the best place in the world to do business. The USA is far too litigious with its rule based approach to regulation and the rest of the world has lower standards in corporate governance.Comment
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That is true but only in theory. In practice no one is supervising the implementation of directives. Sadly....Politicians in east Europe have been known to spend community funds for agriculture in their own interest.
Frankly, I'm a Euro-Skeptic, but that's just me.
But i do agree: Europe is one of the best places in the world for business.Comment
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I'm definitely a Europhile, so I'll have to disagree with you!
One of the best things about being in the EU is that there's a court you can go to to hold corrupt national politicians to account!Comment
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