The great opportunity: Spain as a global hub for innovation and drug production

Afi in collaboration with Pharmaindustry has made the report 'The great opportunity: Spain as a global hub for innovation and drug production' of which the potential of the pharmaceutical sector in Spain, a key engine of innovation, qualified employment and economic growth, which generates more than 27,200 M€ in added value, 1.9% of GDP and supports more than 242,000 jobs.

The report also highlights the benefits provided by the sector both to citizens and to public administrations and to the Spanish economy as a whole:

• In the last two decades, the economic contribution of the pharmaceutical industry has increased 2.5-fold, showing a much greater dynamism than that of the Spanish economy as a whole. The sector exports more than 17,000 M€ annually, about 5% of total Spanish exports.
• An innovative high-intensity sector: the pharmaceutical industry invests more than 1,500 M€ in R&D per year.
• Supported by highly qualified workers: 30% of workers in the pharmaceutical industry have a master's degree or doctorate, tripling the average of the Spanish labor market.
• It contributes to the financial sustainability of Administrations. It is estimated that each additional euro per capita invested in hospital medicines generates savings of 0.27€ in pensions and 0.3€ in hospital expenses.
• And it's environmentally friendly. Although the intensity of GHG emissions in the industry is much lower than that of the rest of the industry, it has managed to reduce them by 42% in the last 15 years, contributing to the country's climate objectives.