An analysis of German biotech industry

The German economic-financial daily Handelsblatt yesterday published a long article about the current state of the German biotech industry. 657 biotechs are currently operating in Germany–vs 641 in 2016–and they together delivered revenues slightly exceeding €4bn in 2017, which represents a 8% growth over 2016. The industry employs 26,000 people, that is 12% more than in 2016. It was fueled with a total of €627m by private investors in 2017 (+33% vs 2016). Despite these excellent figures, consultancy EY has detected some negative trends–mainly due to the industry struggling to generate innovation and making novel discoveries usable in the market. The underlying cause for this, according to EY, is that institutions are not making a great effort to fund the industry and support new PhDs to become entrepreneurs. Considering this situation, the funding and support plan announced by the German Government and called „Bioökonomie 2030“  should be granted further support and development, in order for German biotechs to keep pace with US biotechs.

(Source: Handelsblatt)