The life science industry in Sweden is in a major upswing according to a recent survey by SwedenBIO. This follows on from a similar report published exactly one year ago and demonstrates the remarkable strength and resilience of the sector. Despite the pandemic, the situation has further improved with many small companies actually in growth mode.
The survey, which targeted pharmaceutical development companies with operations in Sweden, shows that as many as 80% of companies report that they will expand by recruiting more staff or consultants in the coming year. Compared to the situation a year ago, their confidence in projecting future growth has increased; 62% of companies have a more positive view of their projections now compared to before COVID hit and only 8% report the opposite. Furthermore, the increasing numbers of international experts being appointed to boards and collaborations being signed that the survey reveals are also indications of additional company growth.
Swedish life science companies, like many others, have been affected by COVID. There have been delays and issues for some e.g., when it comes to recruiting patients to clinical trials and raising capital. However, at the same time, some companies saw new opportunities and wanted to contribute to the development of better tests or treatments for COVID. Swedish vaccine companies are also involved in the production of COVID-19 vaccines. The Novavax vaccine expected to be approved shortly is partly produced in Uppsala and Valneva’s facility in Solna is also engaged in the production of a vaccine against COVID-19.
“The positive outcome of our follow-up survey is very encouraging for the future,” says Helena Strigård, Director General, SwedenBIO. “The results also confirm our belief that involvement with other global life science hot spots opens more opportunities for collaboration and drives growth. We have, in fact had several fruitful interactions with similar organizations in regions internationally, including California. Furthermore, the fact that overall, the disturbances due to COVID have been limited and that numerous Swedish companies have re-focused their development towards COVID-related tests or treatments, underscores the strength of the industry as a whole and how creative and dedicated our life science industry experts are”.
Against this backdrop of the reported positive situation for Swedish Life Science, international connectivity is a priority for SwedenBIO and the organization is therefore inviting life science experts and stakeholders to a special NLSInvest conference program “LIVE” on April 19 and to Nordic Life Science Days Digital April 20-23, 2021. This year, a record number of international investors have signed up together with big pharma representatives and a broad range of the region’s most innovative companies.
SwedenBIO is the national non-profit association for the life science industry in Sweden, with almost 300 members. Our members are companies active within pharma, biotech, diagnostics and medtech and comprise the entire range from small start-ups to SMEs and large enterprises. Many are engaged in research and development. Other members are experts in fields such as IP, law, finance, product development, life science communication and business development. SwedenBIO is member-driven and our mission is to promote an environment bringing success and growth to the entire Swedish Life Science Industry.