Life Sciences & Pharmaceuticals

In the Pharmaceuticals sector, the manufacturing of generics has the potential to spur growth and GVA, improving the efficiency of the Greek healthcare system and also fueling exports and growth for the Greek pharmaceuticals industry.

The Greek pharmaceutical sector has traditionally been a strong contributor to the Greek Economy, focusing mainly on local consumption. However, this shift towards generics can provide a very strong opportunity for the sector to leverage its know-how and capabilities, focusing first on the Greek market where cost pressures are forcing a major shift towards generic drug consumption, but also on European and other markets.

There are several Greek companies already competing successfully in the international pharmaceutical markets, with a strong shift towards R&D, innovation and marketing so that they can become competitive.

Investments in the Greek life sciences sector over the next few years will be driven by:

• the export potential for Greek generic pharmaceutical manufacturers based on the expected growth of the European and CEE market and the competitive advantages and know-how of Greek players
• the significant development of new R&D start-ups and research efforts  focusing on biotech and life science innovations, often in collaboration with international research institutes and world-class teams
• the leveraging of synergies with the tourist industry for the development of specialized medical tourism / medical care facilities both for inpatient or outpatient operations and for such procedures as fertility treatments, elderly care and rehabilitation.