HELSINKI: In 2016, the total value of pharmaceutical industry investments rose to 227 million Euros ($242 million) from 220 million Euros in the previous year.
The growth was particularly marked in R&D investments.
In addition to investments, the branch sees signs of a positive growth trend both in the number of clinical trials and of patients participating in them. According to the investment survey performed by trade group Pharma Industry Finland (PIF), the pharmaceutical companies are particularly interested in increasing their register-based research operations in Finland. For example, the research on adverse effects of medicines utilizes register data.
The favorable trend in the investments made by pharmaceutical companies enhances the branch’s role as a promising actor promoting economic growth in Finland.
The pharmaceutical companies have made most of their investments in R&D. The increase in the number of clinical trials is shown, not only in the results of the PIF questionnaire but is also reflected in the notifications made to the Finnish Medicines Agency (FIMEA).
The Finland-based clinical trials primarily focus on cancer, cardiovascular diseases and neurological conditions, such as dementia.
The Finnish exports of pharmaceutical substances and medicinal devices grew by over 6% in 2016. Medicinal devices include, for example, the hormonal IUDs developed in Finland and manufactured in Turku. The major part of Finnish medicine exports go to the European Union but also Russia and Switzerland are important export markets.
Last year, the Finnish pharmaceutical market developed at a constant rate. The pharmaceutical sales at wholesale prices grew by 3.8%, totalling 2.4 billion Euros. The medicines reimbursed by the National Insurance Institution Kela accounted for half of the sum and the hospital medicines for a good fourth of the whole.
“Finnish people are aging, and this causes an increase in the occurrence of various chronic diseases. At the same time, however, the development in pharmaceutical R&D makes it possible to avoid hospitalization and to treat the patients at home. Paid through the National Insurance Institution Kela, the share of medicine reimbursements has not grown and is about 7% of the overall healthcare expenditure,” PIF’s analyst Nadja Tamminen added.
