Traditional Austrian pharmaceutical company brings investment from a global Japanese company into the country, thereby sending an important signal to strengthen the location
This is an extremely welcome contribution to strengthening Austria as a pharmaceutical location. Every investment that a company makes here in Austria, be it in the course of setting up a new company or expanding an existing location, is an important economic stimulus. This is particularly important in our industry because we have been observing constant outsourcing and outsourcing in certain areas of pharmaceutical production for a long time. The reason for this is the constant, strong pressure on prices. This makes production in Austria or Europe increasingly difficult, especially for those who have proven medicines on the market. It is therefore all the more gratifying when a company management, such as that of the Sigmapharm Group, manages to strengthen an Austrian location.
Mag. Alexander Herzog, Secretary General of PHARMIG
Vienna (OTS) – The Japanese pharmaceutical company Rohto Pharmaceutical is investing almost 30 million euros in the Sigmapharm Group, which is based in Vienna and has a second production facility in Hornstein, Burgenland. Alexander Herzog, Secretary General of PHARMIG, says: “This is an extremely welcome contribution to strengthening Austria as a pharmaceutical location. Every investment that a company makes here in Austria, be it in the course of setting up a new company or expanding an existing location, is an important economic stimulus. This is particularly important in our industry because we have been observing constant outsourcing and outsourcing in certain areas of pharmaceutical production for a long time. The reason for this is the constant, strong pressure on prices. This makes production in Austria or Europe increasingly difficult, especially for those who have proven medicines on the market. It is therefore all the more gratifying when a company management, such as that of the Sigmapharm Group, manages to strengthen an Austrian location.”
There have also recently been location investments by pharmaceutical companies in Tyrol, Carinthia and Styria. All of these investments have a positive impact on the economy, the labor market and value creation, regardless of which federal state they are made in. They also contribute to improving security of supply. Herzog explains: “Pharmaceutical companies that produce here generally do not limit their sales to Austria and also make their products available in other markets. Likewise, we cannot be completely self-sufficient in drug production. But despite these circumstances and especially against the background of geopolitical developments, any strengthening of local drug production is even more important.”
Herzog takes another stand for the pharmaceutical industry: “Our member companies always make a clear commitment to Austria. Politicians should recognize this when designing the legal framework and not make it increasingly difficult for companies to be part of Austria’s value creation. A strong location, strong drug research and production are beneficial for all of us.”
About PHARMIG: PHARMIG is the voluntary interest group of the Austrian pharmaceutical industry. The association currently has around 120 members (as of June 2024), who cover a good 95 percent of the medication market. PHARMIG and its member companies stand for the best possible security of supply of medicines in the healthcare system and ensure social and medical progress through quality and innovation.
Questions & Contact:
PHARMIG – Association of the Austrian Pharmaceutical Industry
Peter Richter, BA MA MBA
Head of Communications & PR
+43 664 8860 5264
peter.richter@pharmig.at
www.pharmig.at