Biotech Sector Investment Seen Low in Spain

According to official data, investment in Spain's biotechnology sector totalled a somewhat low EUR49.3mn (US$65.1mn) in 2004. The figures will be of some concern to the local research sector, which already is struggling to mitigate a series of harsh new government sector reforms aimed at cutting the national drugs bill.

The data also indicate that some 85% of last year's investment was focused on leading local player Neuropharma. The company has already announced promising results from early-stage clinical trials on a number of potentially innovative drugs.