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
The Basel-based pharmaceutical supplier Lonza is supporting the US firm Humanigen in the development of a potential coronavirus therapeutic. Lonza...Read More
Startups from the Basel Area have been ranked highly in the TOP 100 Swiss Startup Award by Venturelab. The medtech...Read More
The U.S. Food and Drug Administration has given the Basel-based life sciences company Roche authorization to use a test that...Read More
The Chinese life sciences company Hengrui Medicine is establishing a Swiss subsidiary in Basel. The European hub for clinical research...Read More
The Basel Area-based company Polyphor has signed an exclusive licensing agreement with Fosun Pharma in China. Fosun Pharma will lead...Read More
With the new “swiss hosting” label, the Basel-based company swiss made software Gmbh is guaranteeing that data will not be...Read More
Karin Crisanto recently joined Basel Area Business & Innovation as Head of Innovation Space and Infrastructure. She previously worked for...Read More