Eastern Europe: The New Frontier for Biotech and Pharma
Over the past decade, Eastern Europe has become the hot new destination for biotech and pharmaceutical companies looking to relocate central business operations, as well as research and development functions. While Western Europe and North America have traditionally dominated the industry, Eastern European countries are now attracting their fair share of investment.
Notable Big Pharma news includes:
AstraZeneca which opened a new office in Krakow, Poland focused on developing advanced computer methods for the prevention, diagnosis and treatment of diseases, in 2021.
GSK created a new global R&D hub in Poland in 2020.
Regional Clinical Trial Activity:
According to the latest data from Zymewire, there are 59 companies across the Eastern Europe region who have shared clinical trial related news in the past year. 53 companies, in the year prior, demonstrating a gradual increase in activity.
Poland comes out on top for number of biotechs, large pharma locations, and clinical trial activity – with 21 clinical-stage biotechs based there.
The appetite to relocate and open new sites in Eastern Europe has been driven by a confluence of factors. Firstly, countries like Poland, Hungary, and the Czech Republic have deep reserves of skilled graduates in chemistry, biology, and medical research.
In the region companies can benefits from much lower operating costs such as building rental, logistics, construction, and salaries. With commercial real estate a fraction of the price compared to other global biotech hubs such as London or Boston, companies benefit from state-of-the-art facilities without the vast cost.
Governments across Eastern Europe are rolling out the red carpet for Pharmaceutical and Biotechs, with tax breaks, grants, and expedited approvals - keen to establish biotech hubs that drive high-value jobs. Situated next to major markets, like Western Europe, reduces transportation costs and challenges also.
Furthermore, research institutes and universities in the region are rapidly improving. Poland and Estonia now boast world-class centres in fields like biotechnology, drug discovery, and genetics. This provides a pipeline of talented graduates ready to begin their careers in industry roles.
It’s not hard to see why Eastern European countries represent the new frontier for Biotechs - where scientific prowess, business-friendly policies, and affordable costs converge to create maximum value.
To learn more on this topic, and opportunity to conduct clinical research across Eastern Europe, this year's COG Europe features numerous speakers and vendors who specialise in the region.
Complimentary attendance is reserved for pharmaceutical, biotech, health and academic representatives.