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Spain, a benchmark for the international pharmaceutical industry
The INSEAD Healthcare Alumni Network hold in San Francisco an event on themed “Showcasing European Hot Spots for US Life Science Companies”. This event aimed to highlight go to market strategies, best practices, and ‘dos and don’t’s’ for European market entry for US companies.
ICEX-Invest in Spain participated in the panel sharing the perspective of Spain as a World Reference in Biomedical Research. In fact, Spain is one of the world leaders in clinical research collaborating in near 20% of the international trials with a leading position in the UE.
The country has an extensive network of 800 hospitals, both public and private, backed by leading-edge research centers. Thus, the system is ideal for transnational medicine and discovering new drugs and advanced therapies, explained María Jesús Fernández, Trade Commissioner of Spain in Chicago.
Moreover, Spain is the 9th power in world scientific production with 2,5% of the world's biotechnology output, 60% with international partners.
In terms of production, Spain’s pharmaceutical industry enjoys a good standing in the UE, being the 9th largest pharmaceutical market in the world and accounting for almost 20% of all private R&D spending in Spain.
At the core of the event was a panel discussion showcasing key learnings and success stories of market entry strategies for various European countries including clinical trials in Europe, commercial European launch strategies, market access and pricing challenges, and human resources and talent acquisition.
