The Finnish Pharmaceutical Industry As An Investment Opportunity
- Date: 2010-08-31 - Word Count: 472
Share This!
According to local sources, the pharmaceutical industry will be the next sector in Finland's economy to show strong growth. Both the number of companies operating in the pharmaceutical sector and the number of professionals employed in the industry are expected to double in the next ten years. Specifically, the number of companies operating in Finland's pharmaceutical industry and associated sectors is expected to increase from its current total of approximately 50 to a total of 140 companies by 2010. By the same year, current forecasts indicate that the number of experts and professionals employed in the industry will more than double to a total of 14,000. In the same period, sales by the industry are expected to rise to €3,500 million-approximately $3,200 million. Major part of this sum will be coming from outside Finland. In addition to medicine-related sales, the Finnish pharmaceutical sector is expected to generate significant sales volume through the provision of product development and manufacturing services.
Pharmaceutical companies' experts support that the Finnish pharmaceutical sector is based on high-level know-how and this will bring foreign capital to Finland very soon. Companies will also be coming to Finland to exploit the product development expertise. In fact, the Finish pharmaceutical sector's growth is mainly supported by Finland's position as one of the leading high-technology locations in the world. In fact, the strong growth of the Finnish pharmaceutical sector offers excellent opportunities for U.S. companies and venture capitalists to cooperate with Finnish companies in joint ventures and partnerships.
One of the biggest contributors for a foreign investment to take place is the target country's workforce, which is based not only on the skilled, but also on the number of available workers. Pharmaceutical companies tend to look at the talent, but it is definitely an employee's market out there. That is not a problem in Finland, because the national unemployment rate is still high. A second major factor is presence of other pharmaceutical companies. If a location is right for one company, it probably offers the same advantages to others. Recruiting new employees with R&D or manufacturing skills, for instance, is easier if there is already a large base of pharmaceutical or biotech workers right in the neighborhood. Because the pharmaceutical industry has close ties with the medical community, it is common for R&D and manufacturing companies to locate close to major medical centers. On the other hand, pharmaceutical and biotech companies developing products for food crops or livestock generally prefer communities in farming areas. The reason so many large pharmaceutical companies and smaller biotech start-ups are expanding or locating in Finnish is because they are offered what they are looking for. With a strong supply of highly skilled labor, a significant incentive package, a favorable wage differential and sophisticated communications and transportation systems, Finland is bound to attract pharmaceutical companies during the next decades.
Pharmaceutical companies' experts support that the Finnish pharmaceutical sector is based on high-level know-how and this will bring foreign capital to Finland very soon. Companies will also be coming to Finland to exploit the product development expertise. In fact, the Finish pharmaceutical sector's growth is mainly supported by Finland's position as one of the leading high-technology locations in the world. In fact, the strong growth of the Finnish pharmaceutical sector offers excellent opportunities for U.S. companies and venture capitalists to cooperate with Finnish companies in joint ventures and partnerships.
One of the biggest contributors for a foreign investment to take place is the target country's workforce, which is based not only on the skilled, but also on the number of available workers. Pharmaceutical companies tend to look at the talent, but it is definitely an employee's market out there. That is not a problem in Finland, because the national unemployment rate is still high. A second major factor is presence of other pharmaceutical companies. If a location is right for one company, it probably offers the same advantages to others. Recruiting new employees with R&D or manufacturing skills, for instance, is easier if there is already a large base of pharmaceutical or biotech workers right in the neighborhood. Because the pharmaceutical industry has close ties with the medical community, it is common for R&D and manufacturing companies to locate close to major medical centers. On the other hand, pharmaceutical and biotech companies developing products for food crops or livestock generally prefer communities in farming areas. The reason so many large pharmaceutical companies and smaller biotech start-ups are expanding or locating in Finnish is because they are offered what they are looking for. With a strong supply of highly skilled labor, a significant incentive package, a favorable wage differential and sophisticated communications and transportation systems, Finland is bound to attract pharmaceutical companies during the next decades.
Related Tags: money, finance, loan, mortgage, stocks, self help, business, investments, savings, bills, checking
Your Article Search Directory : Find in Articles
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are