Danish exports of medicinal products saw record breaking growth in 2007, writes business.dk. According to figures from Statistics Denmark, exports totalled DKK 40bn (USD 8.3bn), up over DKK 1.9bn (USD 393m) on the year before. Medicinal exports now account for 7.4% of total exports from Denmark.
Ida Sofie Jensen, director of the Danish Association of the Pharmaceutical Industry, says the strong advance in exports of medicinal products signals a shift from traditional business sectors like agriculture to more knowledge intensive business sectors.
"The progress we are witnessing is much greater than in other sectors," Jensen told business.dk. "Since 2000, exports of medicinal products has risen by 68%, and that's well above the performance of other sectors during that period."
But while Danish exports of medicines are booming, there is also an awareness that overseas customers are focusing increasingly on keeping their drug bills down. Stig Løkke Pedersen, sales and marketing director of Danish pharmaceutical company Lundbeck, told business.dk that it is important to communicate to customers on export markets that drug bills should be seen as part of a wider health-economic calculation.
In the case of Lundbeck's antidepressant medications for example, the economic returns of fewer lost working days needs to be factored into the overall cost equation.