Denmark has the biggest drug development pipeline in the Nordics
22 October 2014
The Nordic life science sector is performing well with a 11.3bn Euro turnover in 2013 of which drugs accounted for 7.3bn. Denmark has the biggest drug development pipeline in the Nordics.
Despite a population of only 25 million, the Nordic life science sector showed a turnover of 11.3bn Euro in 2013. Drugs accounted for 7.3bn and biotech products for 3.98bn. The vast majority of new developments in biotech – almost 80% – come from Denmark and Sweden. Also, some of the world’s most innovative and promising projects are to be found in the Nordic countries, according to a new report The Nordic Life Sciences sector study 2014 from the auditing giant Ernst & Young.
Also in terms of the number of drugs in the pipeline (450 items), the Nordic countries perform well compared to other European countries.
In total, the Danish pharmaceutical companies have 107 drugs in various stages of testing on humans, outperforming countries such as Sweden in the development of new drugs.
- Denmark has around 163 products in the pipeline, of which 13 are in Phase III.
- Excluding products in the preclinical phase, Denmark has the largest number of products in the pipeline compared to other Nordic countries.
- Denmark is a pioneer in the development and implementation of e-based information and communications solutions for hospitals and telemedicine.
- The number of major M&A transactions in the sector related to Denmark amounted to 4 to a value of 120m Euro.
The EY analysis shows that the positive trend in the Nordic life science sector owes to the countries' high level of education, a well-developed infrastructure, focus on innovation and good conditions for doing research.
Read the Nordic Life Sciences sector study 2014 here.