Danish government presents new life sciences growth plan
While Danish life sciences companies are already leading in the global markets for medicines and medical devices, and life sciences has become one of Denmark's strongest business areas, Denmark has the opportunity to strengthen its position in the field even more. This requires a constant focus on strengthening innovation, research and product development.
The development seen in recent year’s points to a major growth potential, provided Denmark continue the great work within the field of life sciences.
Our growth plan […] reduces some of the most significant barriers for businesses while also strengthening the entrepreneurship and investment culture. More start-ups and digital transformation will strengthen the growth layer of scale-ups within life science, allowing Denmark and Danish companies to be digital and technological frontrunners in the future as well.
Initiatives across six focus areas
“[…] we will introduce risk sharing in the subsidy system, evolve our strong cooperation between the public health service and the private health sector, make clinical research more attractive in Denmark, strengthen our efforts within medical devices and promote a strong and European-oriented Danish Medicines Agency,” explains the Minister for Health, Ellen Trane Nørby.
The growth plan is a result of a corporation between the Ministry of Industry, Business and Financial Affairs, the Ministry of Health, the Ministry of Higher Education and Science and the Ministry of Foreign Affairs of Denmark.
Join an already strong life sciences industry
The pharmaceutical industry, for example, is one of Denmark’s most productive sectors with a productivity that measured on the value added per employee being approximately 2.6 times as large as the business community as a whole.
The growth plan will come to strengthen an already strong life sciences environment in Denmark, by being an important contribution to the establishment of an even more attractive business environment for, among others, foreign companies.
[…] we shall increase our efforts to attract foreign life science investments. Foreign investments represent a major contribution to growth and employment in Denmark and provide us with new technologies and know-how.
Among the initiatives to attract foreign companies to Denmark, are a breakdown of both economic and administrative boundaries for life sciences companies.
This includes, amongst others, improving the framework conditions for conducting clinical trials plus exempting commercial sponsors for all fees in connection with phase I trials.
The Danish growth strategy for life sciences in short
- 36 initiatives within six focus areas aims to boost the Danish life sciences industry.
- Contribution to the improvement of the whole life sciences value chain – from research to commercialisation, approval and sales in the international export markets.
- A corporation between the Danish Ministry of Industry, Business and Financial Affairs, the Danish Ministry of Health, the Danish Ministry of Higher Education and Science and the Ministry of Foreign Affairs of Denmark.