Pharma’s significant R&D investment in Spain
Spain has been recognized as one of the best-equipped countries in Europe to host clinical trials, particularly in the early stages. This is all thanks to the pharmaceutical industry continuing to investment into research and development (R&D), which has allowed for the early access to new therapies by patients and other beneficiaries.
The pharmaceutical industry based in Spain invested approximately 194 million euros into R&D in 2016. The investment went towards contracts with health professional organisations to further develop current and future research projects.
A further 112 million euros was then contributed to help health professionals attend scientific-professional meetings and congresses. The organisations of these events additionally received 81 million euros to further push their R&D projects and research.
The following investment has enabled for the training of specialists and the maintenance of pharmaceutical research excellence in Spain, which greatly benefits society as a whole. This signifies the importance and positive outcomes resulting from R&D investment. To find out more about R&D and how your business could benefit from an R&D tax credit, contact a Swanson Reed R&D tax advisor today.