Spain's Booming Biotechnology R&D Industry Defies Economic Crisis

The Spanish Biotechnology Association, Asebio, presented its latest pipeline developments and updates for the biotechnology industry this month, including results achieved in 2011. There are 267 products in development for 2012, an increase of 67 products over the 2011 development pipeline.

According to Diario Medico, of the overall 267 biotechnology research and development (R&D) projects in the pipeline for this year, 138 are already in clinical development. In terms of biotechnology drug development, Asebio points to a pipeline of 89 products that are being investigated this year by 32 national biotechnology companies, of which 35 are at pre-clinical stage; 23 at Phase I; 23 at Phase II; 3 products are at Phase III; and two are ready for marketing approval.

According to the source, a further 49 products are being developed by multinational companies operating in Spain, three of which are at Phase I; 16 at Phase II; 21 at Phase III, and nine products are ready for marketing approval.

In terms of therapy areas, R&D of oncology drugs comes top of the list followed by neurosciences, of which 20% of the research belongs to domestic companies and 14% to foreign companies. In terms of foreign multinationals involved in the projects, the number grew from 34 in 2011 to 54 in 2012. Although oncology products stay top of the list, their share slightly decreased from 37% in 2011 to 34% in 2012. Neurology products also saw a slight decrease in relation to last year going from a 19% share to 17% in 2012. In terms of domestic companies, the most prolifically involved in biotechnology projects are GP Pharm, Pharmamar, and Tigenix, and from abroad, United States firms Genzyme, Merck, Amgen, and Biogen Idec are the most active.

Outlook and Implications

R&D of biotechnology drugs in Spain is promising in terms of clinical research and enhancing national revenues as it is expected to help foster the work of 32 domestic companies involved in the projects as well as creating positive prospects for multinational firms working in the biotechnology arena in the country.

Asebio's statistics show there are 267 products in development for 2012, an increase of 67 products over the 2011 development pipeline. Despite the severe economic crisis hitting Spain as well as the harsh austerity measures imposed on the pharmaceutical sector since 2011, biotechnology R&D in the country is performing strongly in 2012 and is expected to grow accordingly in the medium-to-long term, especially in the oncology therapeutics area.

Despite the crisis, the biotechnology sector is on the rise and showing promising results for the medium-to-long term, with an outstanding 11 biotechnology products already ready for marketing in the first quarter of the year. The biotechnology sector in Spain can be seen as an interesting investment opportunity and a means to foster the domestic pharmaceutical sector during a time of crisis when internal sustainability is needed.