Pharmaceutical industry is driving the Swiss economy
The number of jobs in the pharmaceutical industry is on a steady rise – and other industries are benefiting from the success of the pharmaceutical companies. According to a new study from BAK Economics, the pharmaceutical industry is the most important driver of growth in Switzerland as a centre of industry.
(img: Bürogebäude Bau 1/Roche)
The number of jobs in the pharmaceutical industry has increased by 12,000 positions in the past ten years. In 2016, Swiss pharmaceutical companies offered around 43,000 full-time jobs, with each job in the pharmaceutical industry generating around four times more added value as the overall economic average. These figures come from a new study from the independent economic research institute BAK Economics and the consulting firm Polynomics on behalf of the association Interpharma.
According to the study, other industries are also benefiting from the successful economic activities of the pharmaceutical industry. Calculations show that every franc of added value from the pharmaceutical industry is worth an additional 70 rappen of added value in other industries as a result of supplier orders. This results in a direct added value contribution of 49.6 billion Swiss francs, or just under 8 per cent of the economy’s total gross added value. In addition, each additional job in the pharmaceutical industry creates an additional 3.2 full-time jobs in companies in other industries.
Overall, the pharmaceutical industry is the most important driver of growth in Switzerland as a centre of industry, finds the study. Around one-fifth of Switzerland’s real economic growth came from the Swiss pharmaceutical industry.
The success of the pharmaceutical industry is partly due to the attractive conditions in which it operates in Switzerland. For large pharmaceutical companies, this includes unbureaucratic access to important export markets, the availability of qualified staff, competitive corporate taxation, as well as the fact that the excellence of Switzerland as a centre of research is ensured.
Share this article
You might also be interested in
A research project is investigating the improvement in the condition of patients who have been hospitalized due to COVID-19. docdok.health based in Basel is contributing the smartphone app for the project.Read More
The Allschwil-based pharmaceutical company Idorsia receives a payment of 45 million US dollars as part of an agreement with Neurocrine Biosciences and shall also be entitled to claim milestone payments in future. Neurocrine has exercised a licensing option for a drug developed by Idorsia to treat epilepsy..Read More
Roche has received Emergency Use Authorization in the USA for an antibody test in connection with the novel coronavirus. The tests are already being distributed around the world. In May, production capacities are to already be scaled up to the high double-digit million area.Read More
Basel is valued as a location for company headquarters. In a rating from the fDi Intelligence platform of the Financial Times, Basel achieves eighth place in Europe. No other Swiss city does better.Read More
The investment and innovation promotion agency Basel Area Business & Innovation, previously known as BaselArea.swiss, can look back on a successful year in 2019. In this regard, positive developments in the healthtech sector and in Switzerland Innovation Park Basel Area stand out.Read More
The University Hospital Basel is the first Swiss hospital to have treated two Covid-19 patients with the plasma from a patient who has recovered from the virus, which means that they are receiving the appropriate antibodies. This method is a potential therapeutic option.Read More
The Basel-based Botnar Research Center for Child Health is providing capital in the amount of 15 million Swiss francs to its four partner institutions. In this way, the University of Basel should be in a position to advance research into dealing with the coronavirus outbreak.Read More