The federal government’s new research investment package of 45 million euros is a strong signal for companies to conduct research in Austria.
Research, development and innovation are important drivers for Austria’s competitiveness. Research creates know-how and high-quality jobs. We are very pleased that there is this political commitment to Austria as a research location and therefore also to the pharmaceutical industry.
Mag. Alexander Herzog, Secretary General of PHARMIG
Vienna (OTS) – On the occasion of today’s announcement by the Federal Ministry of Labor and Economic Affairs that it will continue the life science focus at the Austrian Research Promotion Agency (FFG) with an additional research investment package of 45 million euros for the years 2024 to 2026, PHARMIG Secretary General Alexander Herzog says: “Research, development and innovation are important drivers for Austria’s competitiveness. Research creates know-how and high-quality jobs. We are very pleased that there is this political commitment to Austria as a research location and therefore also to the pharmaceutical industry.
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The FFG focuses on financial support for application-oriented, industry-related research. “This is all the more important because we face strong international competition, especially in clinical trials. On the one hand, it is the research companies themselves who look for the best research locations within their group for their development projects. On the other hand, Austria as a country is in competition with other countries that have been establishing themselves as a location for research for years – sometimes with strong political support. A signal like the one sent today by the Ministry of Economic Affairs is therefore very pleasing,” said Herzog.
In Austria, pharmaceutical companies have carried out an average of around 482 clinical trials in the last three years. “This number is stagnating and our goal should be to bring more clinical trials to Austria. First and foremost, patients benefit from this because they have early access to new therapies through drug development. Doctors also benefit because they can treat their patients using the latest scientific standards. They also acquire know-how, which in turn strengthens them as specialists in an international context. “This in turn has a positive effect on the individual hospitals in which the research projects are running and in which the specialist staff work,” says Herzog, advocating for more research in Austria.
About PHARMIG: PHARMIG is the voluntary interest group of the Austrian pharmaceutical industry. The association currently has around 120 members (as of January 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