Category: AmCham News
AmCham Norway wishes to express our appreciation to those participating and attending our event at Arendalsuka on Multinational Pharmaceutical Companies: the Case for Investing in Norway.
Reflecting upon and discussing the results discovered in the report released earlier this year, in collaboration with Oslo Economics and BI Norwegian Business School, the panelists, representing major pharmaceutical companies both primary Norwegian government parties, debated how the pharmaceutical industry can best flourish in Norway.
Present as panelists were:
The report analyzes impacts of the multinational pharmaceutical industry on Norway’s economy and society. Among other key findings, the report concludes that when pharma companies collaborate with local hospitals, it greatly improves the quality of clinical research.
Furthermore, the industry creates highly specialized jobs in Norway within research and innovation, as well as the industry significantly benefits patients with their life-saving products.
Albeit significant potential for the sector to grow locally, there are many views on how best to facilitate the expansion, as explored and debated during the event.
Harald Tom Nesvik, FrP, pointed to the fact that although there is a growing interest among the current government to encourage investment by the international pharma industry in Norway, it has proven increasingly complex through challenging bureaucracy at the department level.
Both Fuglaas and Jeffords, from GE Healthcare and Roche respectively, emphasized the need for growth in the sector, with Fuglaas highlighting positive factors of decentralization and localization, and how it can lead to ripple effects in communities like Lindesnes, where GE Healthcare is an industrial cornerstone.
Jeffords, however, pointed to Norway’s current healthcare expenditure on medicines, which is among the highest spenders in Europe per capita on healthcare, although among the lowest spenders on investing in medicines.
According to AbbVie’s Fumoleau, if he were a Norwegian politician looking at healthcare today, his main goal would be “for Norway to be one of the fastest countries to adopt new medicines after approval by the European Medical Agency – and in a cost effective way.
“If Norway addresses this,” he went on to say, “we will be able to provide patients and clinicians with the most effective and innovative treatments as well as create amazing opportunities when it comes to developing innovation and attracting global investment.
Turflinger, for his part, pointed out that of AmCham’s 22 different industry groups, the pharmaceutical grouping represented the most potential for growth within Norway.