“It’s not often that a single product catapults a whole industry upward,” writes business newspaper Handelsblatt, but then again the product offered by German coronavirus vaccine developer BioNTech is no ordinary one.
In the global race to deal with Covid-19, Germany’s extensive network of pharmaceutical companies are involved in major international collaborations and are benefiting from generous government support. German pharma is driving digitalization forward.
Global exports may be down because of the various restrictions associated with the Covid-19 pandemic, but 2020 is shaping up to be an excellent year for German pharmaceutical companies.
With the entire world looking for responses to the coronavirus pandemic, Germany’s pharmaceutical companies are attracting considerable attention. We asked Han Steutel, the president of the German Association of Research-Based Pharmaceutical Companies, for an update on the progress in developing anti-corona medications.
Over the Counter (OTC): People in Germany have been self-medicating more and more in recent years. Sales of prescription-free drugs are increasing at pharmacies and through online mail order services. Why?
Germany’s healthcare market is the largest in Europe, and the reputation of its universities and research institutes is second to none. Now the country is increasingly starting to exploit its potential as an innovation hub for life sciences.
Japan’s biggest pharmaceutical company has two production plants in Germany: one in Baden-Württemberg, which is working on a dengue fever vaccine, and another in Oranienburg.
“The similarities between German and Chinese Greenfield investors often outweigh the differences” – that’s the conclusion drawn by Dennis Wilkens, Germany Trade & Invest’s China director. And that’s why lots of Chinese companies are setting up shop in Germany.
The coronavirus pandemic has not dented Germany’s leading role in European and global logistics. In many respects, it has even handed the sector additional growth potential.
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