In this episode of Supply Chain 360, part of the BANI mini-series, we explore a major shift that isn’t a sudden shock or black-swan event, but a white swan: a visible, predictable transformation that’s already reshaping Europe’s industrial landscape.

Recent data shows that around 70% of energy-intensive companies are moving investments out of Germany, driven by rising energy costs, CO₂ pricing, political uncertainty, and slowing demand. This includes global players like ArcelorMittal, redirecting low-carbon steel projects to France, and German-based Schott AG, increasingly shifting its specialty glass and packaging investments abroad under a “local-for-local” strategy.

But what does this mean for pharma supply chains?

A lot. When upstream industries relocate, the downstream effects ripple through sourcing, intermediates, packagi ...