PHARMECO, a European public‐private partnership launched in November 2024, aims to trigger transformation in pharmaceutical manufacturing by advancing more sustainable technologies and reducing the industry's environmental footprint, without compromising quality or patient safety. Bringing together major pharmaceutical and medtech companies, universities, research organizations, small and medium‐sized enterprises, and a government institute, PHARMECO is driving a six‐year, multidisciplinary effort co‐funded by the European Union, private members of the Innovative Health Initiative Joint Undertaking (IHI JU), and UK Research and Innovation (UKRI). The project focuses on intensifying production processes and developing harmonized methods for assessing sustainability. In this Guest Editorial, members of the project's Steering Committee outline PHARMECO's vision, structure, and key approaches, and discuss its expected impact and long‐term contributions to sustainable healthcare in Europe. The article also introduces a special collection highlighting ongoing work carried out within the PHARMECO project.