Regulatory OK for Chemical on EU Market More Costly Than U.S.

Obtaining regulatory approval for placing a new chemical on the European Union market is cheaper than in Canada, China or Japan, but more expensive than in Korea or the U.S., according to a study the European Commission prepared on the competitiveness of European chemicals companies.

The average cost to companies to get approval for a new chemical under the EU’s REACH law is about 86,000 euros ($92,000) compared to 116,000 euros to 125,000 euros ($124,000 to $134,000) under equivalent legislation in Canada, China and Japan, the study calculated. The commission, the EU’s executive arm, published the study ...