PHARMACEUTICALS AND BIOTECHNOLOGY IN CROATIA
Attractive Investment Opportunities

The pharmaceutical industry has a long tradition in Croatia and ‘know-how', promising successful future development of this and related industries. The most important pharmaceutical companies in Croatia are Pliva, Belupo, and Jadran Galenski Laboratorij. The pharmaceutical industry represents 4% of the total manufacturing industry employing 1.7% of the total employment in manufacturing in Croatia.

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The Croatian market for pharmaceuticals shows an increasing trend. According to Business Monitor International's report the market value is expected to reach US$670 million by 2010. After a period of accelerated growth (up to 15% annually), a growth rate of 7-9% per annum is expected in the next few years. Croatia has typical Western demographics supporting the expected market increase. Generic drugs represent over 70% of the total market value because branded drugs are not usually launched in the country. The registration of generics lasts less than nine months while registration of proprietary products can last up to three years.

Due to intensive investments in research and discoveries in molecular biology, biotechnology has become one of the fastest growing industries in the world. Today, on the global market the portion of drugs emanating from biotechnology is around 8 %, while according to expectations in the period from 2010. - 2015. this portion will increase up to 50 %. Biotechnology is considered one of the most profitable industries of the 21st century. The EU recognizes the importance of biotechnology, positioning it among top strategic directions for future development. The biggest expectations resulting from biotechnology are related with the life-science and medical fields (diagnostics, drug production, therapeutic methods, disease elimination, and chemistry), which is considered red biotechnology; environmental protection and energy (bio fuel/ energy/production of new bio materials), which is considered white biotechnology; and food production & agriculture improvement, which is considered green biotechnology. In addition the application of biotechnology will support the development of bioinformatics, information technology, electronics, and overall improvements in the quality of life. Therefore broad applications of biotechnology have strong ripple effects in other sectors and overall potential for revolutionary economic development.

Source: Croatian Trade and Investment Promotion Agency (www.apiu.hr)

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