Denmark's Pharma Trade In 1993

Danish drug exports rose 14.8% to 10.8 billion Danish kroner ($1.78 billion) in 1993, up from a 9.8% rise in 1992, reports MEFA, the Danish drug industries' association. Over 90% of Danish drug production is exported, accounting for about 60% of the country's total exports, and in 1993, 81% of exports were of finished preparations.

European Union markets took 40% of Danish drug exports in 1993, while the Nordic countries took 18%, Asia and the Middle East 15% and the USA 9%. Drug imports rose 7.5% to 4.3 billion kroner ($708.6 million), with 90% coming from western Europe. Denmark's medicines trade surplus rose 20% to 6.5 billion kroner ($1 billion), representing 15% of the country's total balance of trade surplus, and its per capita export and export surplus for drugs ranked third in the world.

R&D spending by MEFA companies rose 25% to 2 billion kroner ($329.6 million) in 1993, and spending per capita was third in the world after Switzerland and Sweden. Also, 1.8 billion kroner was invested in buildings and machinery. The drug industry's rate of investment is now 19%, compared to 4% for Danish industry in total. 700 new drug industry jobs were created in 1993, up 6%, and while the last three years have seen falling employment in Denmark in general, the drug industry workforce grew 18% in the period.