Swiss Pharma riding the global crisis

The Swiss pharmaceutical industry is shrugging off the global crisis, says Christoph Maeder, president of SGCI Chemie Pharma Schweiz (the Swiss pharmaceutical association), speaking to Switzerland's Neue Zuercher Zeitung newspaper.

The industry's constant innovation, underpinned by its annual R&D expenditure of 21 billion Swiss francs ($20.8 billion), is the reason the industry is coping far better than others. Swiss Pharma spends up to 18% of revenue on R&D, making it the world leader in R&D spending, well ahead of Japan and the USA. With a 40% share of Swiss exports, Pharma is a more important engine of growth for the economy than ever.

To ensure the industry remains a world leader it needs to ensure young people are encouraged to study science, facilitate the entry of highly qualified personnel and maintain and build on Switzerland's overall appeal as a place to do business, Mr Maeder said.