A major pharmaceutical rules overhaul, proposed by the European Commission in April, could see Europe’s share in global research and development contract by a third to 21% by 2040 translating to 2 billion euros ($2.15 billion) per year in lost investment, industry group EFPIA said today.

European drugmakers warned that a proposed complete ban on substances known as PFAS or “forever chemicals” would render medicine production in the region impossible, part of a high-stakes wrangle between manufacturers and environmental regulators.