28/05/2004 (Agence Europe) - Mary Harney, the Irish Minister for Enterprise, has warned that if the fall-off in R&D investment by the EU pharmaceuticals industry continues, Europe will "pay a heavy price in terms of lost employment and reduced economic activity". Addressing the European Federation of Pharmaceutical Industries, meeting in Dublin, Ms Harney noted that the USA is now the "leading inventor of new medicines". In 2002 of the "top ten worldwide products, eight originated from the US, while the remaining two were from Europe", she lamented. Referring to the draft European legislation on chemical products, REACH, the minister acknowledged the importance of improving health and safety of workers and citizens in general, adding "however, we are also very conscious of the need to retain an internationally competitive chemicals sector".