Swiss biotechs made valuable contributions to combat COVID-19
A review of the Swiss biotech sector for 2020 shows that the industry could hardly be in better shape. As the Swiss Biotech Report 2021 entitled “Agility, leadership and innovation in the time of COVID-19” reveals, the industry achieved top scores for nearly every category. Swiss biotech firms made valuable contributions to combatting the COVID-19 pandemic, an accompanying press release issued by the Swiss Biotech Association states. In this context, the report underlines Switzerland's role in basic research, vaccine production and component delivery, as well as in therapeutics.
Research carried out by the country’s biotech firms led to an 8 percent increase in jobs. At present, these companies employ 16,300 people. Moreover, they were involved in a series of mergers and acquisitions.
The Swiss biotech industry generated sales of 4.5 billion Swiss francs in 2020, slightly down on the 4.8 billion Swiss francs recorded in the prior year. This sales decline can above all be attributed to advantageous non-recurring events in 2019. Nevertheless, biotech firms continued to increase their revenues from marketed products and services.
Investment in Swiss biotechs nearly tripled in 2020
In the Global Innovation Index, Switzerland claimed top spot in 2020 for the tenth year in a row. Capital investment in Swiss biotech companies hit a record level: In comparison with the previous year, this nearly tripled to stand at 3.4 billion Swiss francs. Investment in research and development alone rose by 10 percent to 2.2 billion Swiss francs.
“While the pandemic highlighted the importance of the biotech and pharmaceutical sectors, a note of caution may be warranted as many companies suffered significant delays in their R&D pipeline”, warns Michael Altorfer, CEO Swiss Biotech Association, in the press release. He adds: “Nonetheless, we are confident that the sector will continue its impressive expansion”.
The Swiss Biotech Report is jointly produced by ten Swiss companies and organizations.
Key insights from industry leaders regarding talent, tax, IP and choice of location.
The PDF takes a look at the biotech industry’s developments and innovation in the region.
The PDF takes a deep dive into the industry’s success and innovation in the region.
This PDF outlines the key advantages of doing business in Greater Zurich and how we help.
This handbook provides information and data on Switzerland’s key locational advantages.