Spanish Biotech Companies Invested €1.04 Billion in R&D in 2022

Spanish biotech companies increased their investment in the Research and Development (R&D) sector by 16% in 2022, reaching €1.04 billion. The Gross Domestic Product (GDP) of biotech companies amounted to €11.8 billion in 2021, and obtained a turnover of €13 billion in the same year, increasing by 8% compared to 2020.

On the other hand, tax collection from biotech companies was €4.5 billion, representing 0.4% of GDP. Spanish companies in this sector have 118,000 employees, a figure that represents 0.6% of national employment.

In addition, the investment captured by Spanish biotechnology in 2022 stands at €142 million, of which €24 million correspond to the capital increase due to credit compensation. The general director of AseBio, Ion Arocena, explained that “in 2020 we witnessed the great leap in Spanish biotechnology, where private investment increased by 50%, and in 2021 we took another leap with an increase of 20%, but now we see how the investment experiences a drop compared to the two previous years, up to €142 million.”

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Spanish biotech companies generated €4.52 billion in tax collection

Spanish biotech companies maintain their leading position in the industrial sector in science with the highest percentage of researchers. The research work places Spain in the ninth position in terms of scientific production on a European scale.

Two decades ago, this sector only had 50 companies dedicated exclusively to biotechnology. Currently, there are 898 companies in this area and with an annual average of 48 companies created in the last decade. Catalonia is the leading region in number of companies, with 24.5%, followed by Madrid with 17% and Andalusia with 14%.

The president of AseBio, Ana Polanco, highlights that “biotechnology is crucial in the search for disruptive and effective solutions, thanks to its great capacity for innovation and its transversal nature and, without a doubt, it should be a cornerstone due to the scientific potential demonstrated and the engine of economic growth and social well-being that it represents, which, as we have verified this year, is firmly established”.

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(Featured image by  kschneider2991 via Pixabay)

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First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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