American pharma giant invests billions in Danish biotech research
17 October 2016
The US based pharmaceutical giant Bristol-Myers Squibb has developed a promising long-distance relationship with Denmark, having invested more than USD 2.37 billion in Danish biotech companies and research in just two years.
Danish research has become somewhat of a darling of the pharmaceutical giant Bristol-Myers Squibb.
Since November 2014, Bristol-Myers Squibb has invested more than 2.37 billion US Dollars in Danish biotech companies and Danish research, making the pharmaceutical company one of the biggest foreign investors in Denmark in recent years.
25% of R&D budget invested in Denmark
In the last 24 months, Bristol-Myers Squibb has invested about 25% of its total budget for research and development of drugs in Denmark.
“We believe Denmark is conducting ground-breaking research. Our investments in Denmark obviously reflect that the level and quality of Danish research is very high. I am basically impressed by the ecosystem in Denmark. It is a remarkable achievement to create companies able to turn early research results from universities into new innovative drugs”, said Global Head of Business Development & Partnerships in Bristol-Myers Squibb, Donnie McGrath.
Strong collaboration with universities
The company particularly praises Denmark for its biotech companies, entrepreneurial spirit and ability to create innovation.
“We will keep a close eye on Denmark. We will be working to expand our relations with researchers and biotech companies, but also with universities. There is a developing trend in Denmark where universities are becoming increasingly enterprising and more focused on turning basic scientific discoveries into new treatments, much like in the US”, said Mr McGrath.
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(Source: Danish newspaper Børsen)