L 30/38 Official Journal of the European Union 4.2.2008 COUNCIL REGULATION (EC) No 73/2008 of 20 December 2007 setting up the Joint Undertaking for the implementation of the Joint Technology Initiative on Innovative Medicines (Text with EEA relevance) THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Commu- nity, and in particular Article 171 and 172 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament, Having regard to the opinion of the European Economic and Social Committee (1), Whereas: — <> — — Decision No 1982/2006EC of the European Parliament and of the Council of 18 December 2006 concerning the Seventh Framework Programme of the European Commu- nity for research, technological development and demon- stration activities (2007-2013) (3) (hereinafter referred to as the Seventh Framework Programme) provides for a Community contribution for the establishment of long- term public private partnerships in the form of Joint Technology Initiatives which could be implemented through Joint Undertakings within the meaning of Article 171 of the Treaty. These Joint Technology Initiatives result from the work of European Technology Platforms, already set up under the Sixth Framework Programme, and cover selected aspects of research in their field. They should combine private sector investment and European public funding, including funding from the Seventh Framework Programme. Council Decision/2006/971/EC of 19 December 2006 concerning the specific programme ‘Cooperation’ imple- menting the Seventh Framework Programme of the European Community for research, technological develop- ment and demonstration activities (2007 to 2013) (%) (hereinafter referred as the Specific Programme Cooper- ation) underlines the need for ambitious pan-European public private partnerships to accelerate the development of major technologies, large research actions at Community level including, in particular, Joint Technology Initiatives. Opinion delivered on 24 October 2007 (not yet published in the Official Journal). OJ L 412, 30.12.2006, p. 1. OJ L 400, 30.12.2006, p. 86, corrected by OJ L 54, 22.2.2007, p. 30. G) The Lisbon Growth and Jobs Agenda underscores the need to develop favourable conditions for investment in knowl- edge and innovation in Europe to boost competitiveness, growth and jobs in the Community. In its conclusions of 13 March 2003, of 22 September 2003 and of 24 September 2004, the Council highlighted the importance of further developing actions following the 3% Action Plans, including the development of new initiatives aimed at intensifying cooperation between industry and the public sector in funding research to enhance trans-national public-private links. In its conclusions of 4 December 2006 and of 19 February 2007, the Competitiveness Council and in its conclusions of 9 March 2007 the European Council invited the Commission to present proposals for the setting up of Joint Technology Initiatives for such initiatives that have reached an appropriate stage of preparedness. The European Federation of Pharmaceutical Industries and Associations (hereinafter referred to as EFPIA) took the lead in establishing the European Technology Platform on Innovative Medicines under the Sixth Framework Pro- gramme. It developed a Strategic Research Agenda, based on an extensive consultation with public and private stakeholders. The Strategic Research Agenda described the research bottlenecks in the drug development process and recommends the scientific direction for a Joint Technology Initiative on Innovative Medicines. The Joint Technology Initiative on Innovative Medicines responds to the Commission Communication of 1 July 2003 ‘A Stronger European-based Pharmaceutical Industry for the Benefit of the Patient — A Call for Action’ and in particular to the recommendation regarding access to innovative medicines to secure the development of a competitive innovative-based industry. This Communica- tion was a response to the Report ‘Stimulating Innovation and Improving the EU Science Base’ adopted on 7 May 2002 by the High Level Group on innovation and provision of medicines — G10 Medicines. This Joint Technology Initiative also responds to the Commission Communication of 23 January 2002 ‘Life Sciences and Biotechnology — a strategy for Europe (2002)". The Joint Technology Initiative on Innovative Medicines also replies to the need for action as identified in the Report ‘Creating an Innovative Europe’ of January 2006. This