Spanish Pharma Armada: now targeting FDI and exports

CPhI Worldwide, organized by UBM EMEA, saw the presentation of a survey amongst key companies in Spain’s pharma supply and manufacturing sectors, showing that, despite recent falls in overall value, the country’s manufacturers are now targeting increased FDI (foreign direct investment) and exports – primarily to Latin America and Europe, but also increasing to the USA.

One of the main growth opportunities to emerge from the surveys is that Spain retains an enormous amount of early-stage innovations, but has until recently lacked the capital to take these into development and commercialization. However, with the easing of financial conditions from ‘la crisis,’ and initiatives to encourage local and international funding, we should see more projects moving into later stage work.

For example, the Spanish Bioindustry Association (ASEBIO) stated it is now working towards helping establish ‘fiscal incentives’ for innovation and is encouraging the government to create ‘centres of excellence’ to fully capitalise on the market’s potential.