German Biotech Sets Record, Seeks Investors
Germany’s biotech industry pulled in 4.4 billion euros of business in 2018, up 9 percent over 2017, according to Ernst & Young’s annual report on the sector. Driving the growth were large publically listed companies, whose turnover grew by 12 percent.
380,000 liters of fermenter capacity puts Germany on top rank in Europe with some 30 biopharmaceuticals produced on site. The number of people employed in German biotech also continued to increase, and a record 1.23 billion euros was invested in research and development.
But there’s plenty of room for further expansion, and – as the German newspaper Handelsblatt has pointed out – German biotech companies often seek venture capital abroad.
“The German biotech sector offers great chances for foreign investors,” says Germany Trade & Invest’s Chemicals and Health Senior Manager Gabriel Flemming. “Growth is there, and so is the thirst for capital infusions.”