This article outlines a new report which has been published under the PharmaDeals imprint. It is a co-publication with Bird & Bird, and has been written by two of the partners of that firm: Richard Eccles and Gerry Kamstra. The report sets out the essential issues concerning the IP regime and the application of competition law within the pharmaceuticals sector, and the sector-specific regulatory provisions that affect competition within it. The resulting case law and related regulatory developments are central to decisions made by pharmaceuticals companies in the EU. The report also summarises the various legal issues and developments involved, with examples given from leading cases.