PUBLICATION

Global Business Reports

AUTHORS

Neha Ghanshamdas, Vanessa Benz, JP Stevenson

Spain Pharmaceuticals 2015

October 09, 2015

Spain is home to well-established and heavily regulated pharmaceutical and biotechnological industries, concentrated primarily in the capital city of Madrid and the eastern autonomous community of Catalonia. While Madrid has hosted many of the world’s multinational pharmaceutical giants for years—including Novartis, GlaxoSmithKline, Roche, Sanofi, and AstraZeneca—the country’s northeastern region has fostered the development of Spanish multinational players such as Esteve, Almirall, Ferrer, and Grifols. Today, Spain is the fifth largest European pharmaceutical market, with the sector accounting for 1.4% of the country’s total GDP. The industry’s longstanding relevance parallels the country’s world renowned National Health System, which consistently ranks highly among its peers. In 2014, Bloomberg ranked Spain as the world’s 14th most efficient health care system, far ahead of the United States and Canada.

Since the economic crisis of 2008, however, Spain’s expenditure on healthcare has progressively declined, placing the nation well behind its fellow OECD countries. Prior to the economic crisis, Spain was a leader in healthcare investment, spending up to €64.3 billion in the sector in 2009, compared with €53.5 billion in 2014. Furthermore, spending cuts have not been consistent across the country, creating causes for concern over the rise of regional inequities. The Spanish government has implemented a series of cost-saving measures, presenting financial concerns to the industry at large.

RELATED INTERVIEWS MORE INTERVIEWS

Powered by its XmAb antibody engineering platform, Xencor is developing a broad pipeline of drug candidates that are optimized to treat autoimmune disorders, cancer, asthma and allergic diseases.
Piramal Pharma updates GBR in its recent developments and prospects.
Tango Therapeutics is targeting unaddressed disease mechanisms in cancer to develop transformational new drugs for patients.
Founded in 2008, Eiger BioPharmaceuticals is a late-stage biopharmaceutical company focused on developing and commercializing targeted therapies for rare diseases.

RECENT PUBLICATIONS

Peru Mining 2024

After five months in Lima and more than 130 interviews, the conversations with C-executives along the Peruvian mining value chain touched on various topics. These included production targets, drilling results, the benefits of new technologies like the so-called “digital twins” to replicate reality in a virtual environment, and even the use of cartridge valves. However, a recurring theme in almost every interview, and perhaps the most significant one in relevance, is Peru's loss of its position as the second-largest copper producer to the Democratic Republic of Congo.

MORE PREVIOUSLY PUBLISHED

MACIG

"Our West African mines deliver the highest margins, with Séguéla being our lowest-cost operation."

SUBSCRIBE TO OUR NEWSLETTER