Opportunities and Challenges Published: February 17th 2012 Pages: 64 Single User Price: 620 / $1085 / 775 Available

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Role of pharmaceutical industry in the economy of austria THE PHARMACEUTICAL MARKET: AUSTRIA - REVIEW The macroenvironment for the Austrian pharmaceutical industry is positive. Economic recovery is strengthening, with modest GDP real growth in 2011 and 2012. However, the EIU projects that Austria will be affected by the expected euro zone recession. Legally, laws on intellectual property and patent provision are in line with WTO/TRIPS regulations. Healthcare expenditure has continued its steady growth in recent years. The principal challenge facing the Austrian healthcare system is rising costs. The main reason for this is an ageing population and the uptake of new, more expensive pharmaceuticals. Cardiovascular drugs are leaders in the Austrian pharmaceutical market, both in terms of value and volume. Other leading therapeutic areas in terms of value are the nervous system, antineoplastic & immunomodulating agents and alimentary tract & metabolism. In terms of volume, other leading therapeutic areas are the alimentary tract & metabolism, the nervous system and the musculoskeletal system. Meanwhile, the leading OTC product group is cough & cold remedies, followed by vitamins & minerals, pain relievers and stomach & digestion products. Several multinational pharmaceutical companies have production sites in Austria, including Baxter, Boehringer Ingelheim, Fresenius Kabi, Nycomed and Sandoz. Aside from these, there are also a number of small- and medium-sized pharmaceutical companies, as well as several researchbased companies.

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HEALTHCARE STATISTICS A comprehensive tabula review, comprising demographics, epidemiology, health expenditure, hospital and primary care infrastructure & services and healthcare personnel, is additionally included.

Overview
Life sciences, pharmaceuticals and biotechnology are among the most important technological and economic areas of the 21st century. Austria offers networks of wellestablished pharmaceutical companies, innovative biotechnology firms, leading research institutes and important centres of expertise, providing the ideal backdrop for a life science location of international importance.

Content:

Industry of the future: Life Sciences Global players in Austria

Industry of the future: Life Sciences

Life sciences is considered one of the most promising sectors of the Austrian economy. Austrian biotech firms are predominantly companies with a pure research focus, over half of which are involved in the health sector. The most important location for life sciences is Vienna and the surrounding area, as it provides the ideal conditions for this dynamic, knowledgeintensive industry.

"Made in Austria" biotech expertise

Austrian companies from the biotech industry are mainly focused on red biotechnology and specialise in

Pharmaceutical agents Diagnostics New therapies

Austrian firms are also well represented in the white biotechnology sector with products such as enzymes and food additives. Austrian biotech firms are among the best in the world when it comes to developing vaccines and new active ingredients to fight life-threatening illnesses. A high percentage of companies work in research and the research rate of the Austrian biotechnology industry stands at 21%.

Innovative products great and small

Small and medium enterprise accounts for the majority of Austrian pharmaceutical firms, with large-scale companies at just 10%. Many of the SMEs were founded by one of 15 Austrian universities which are active in the field of biotechnology. Major biotech companies in Austria include Baxter, Amgen and Novartis. Evidence that Austrian companies are truly world class can be seen in the example of the Viennese biotechnology start-up Apeiron . In 2010 they concluded a far-reaching cooperation agreement with the international pharmaceutical giant, GlaxoSmithKline, that covers the licensing of new therapeutic agents, including one to treat acute respiratory distress syndrome (ARDS). Another firm enjoying international success was founded in 1997 as a spin-off of Vienna University, INTERCELL AG . The company is headquartered in Vienna with offices in the USA and Scotland and is specialised in so-called intelligent vaccines and immunological stimulants as well as brand new vaccine patches which do not use needles. Intercells first product to market was a vaccine against Japanese Encephalitis. The vaccine is approved in the USA (FDA), Europe (European Commission), Canada (Health Canada) and Australia (TGA). Founded in 2006 as a spin-off from the Vienna Veterinary University, Marinomed Biotechnologie GmbH successfully develops natural ingredients primarily from the marine sector applying them as medication for indicating viral and immunological conditions. The companys first product is an anti-viral nasal spray that gained EU approval as a medical product in 2008. Another successful example from Austria is Apomedica . What started out in the mid sixties with the famous Luuf anti-cold balm, has now developed into a company that enjoys success far beyond Austrias borders. Apomedica is today a leading provider of high quality pharmaceutical products and number one in Austria for nutritional supplements. The main export markets are currently Hungary, Slovenia, Germany and the Netherlands.

Networking success

Excellent infrastructure and proximity to the growth markets of Eastern Europe provide the best preconditions for biotech companies in Austria. Scientific activity is concentrated in Vienna where start-ups and established companies from the biotech sector have set up offices. By cooperating with universities and research institutes, it is possible to get the best out of the existing potential in life sciences. These clusters and centres of expertise promote networking in Austria, facilitating optimal development of the promising industry that is life sciences and pharmaceuticals:
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