The person is Boehringer Ingelheim.
There are many challenges facing American life sciences companies. There is a shortage of skilled workers, rising costs, and data security in organizations. Regulations and sustainable living are some of the difficulties. The pressure is always increasing to drive growth and international expansion, develop domestic manufacturing and research capacities abroad, and improve access to new drugs and technologies.
The costs and time involved in navigating procedures and regulations can be daunting for a life sciences company.
There are no simple, one-stop-shop solutions for the US life sciences industry. Austria is an emerging life-sciences hub that offers the sector substantial bottom-line benefits, extensive funding, and comprehensive support.
Many established U.S.-based companies, including Pfizer, Eli Lilly, and GE healthcare, as well as startup and scaleups, operate in Austria. Basic research, production and distribution are just some of the benefits that Austria has to offer.
Themis, a Vienna-based startup that specializes in vaccines and immunomodulation therapies for infectious diseases and cancer, was acquired by the company in 2020. The company invested over 30 million dollars in Austria in cutting-edge technologies for veterinary medicine.
Pfizer relies on the attractive environment Austria offers for pharmaceutical production and long-term partnerships with local medical institutions, universities, and stakeholders in the nation's healthcare sector to produce over 14 million vaccine doses per year at its Austrian production site for global export.
The Americans aren't the only ones. A new production facility for pharmaceuticals was invested by the group of Switzerland. Boehringer Ingelheim is building the largest investment in the company's history to build a climate neutral green factory in Austria.
Basic technologies for the entire value chain are provided by many Austrian companies. Good manufacturing practice and expertise for developing pharmaceutical plants are included in these technologies. The close collaboration among universities, research centers, and industry and Austria's pool of highly educated, experienced scientists ensures these organizations can produce the highest quality products and services.
There are funding and talent opportunities.
Austria is a hub for the sciences, providing unbureaucratic support on financing, searches for top talent, identifying and acquiring optimal operation sites, and networking with potential partners. Austria uses streamlined online registration, tax, staffing, social, insurance, environmental, and many other procedures to help companies set up efficiently.
Direct and indirect funding can help organizations locate in Austria. The Austrian Research Promotion Agency FFG granted life-sciences organizations subsidies, loans, credits, and guarantees of 1.6 billion in 2011. The costs of in-house and contract research are covered by Austria's research tax credit.
Austria is one of the most research-intensive nations in the world and is considered to be a "strong innovator" on the European Union's innovation scorecard. In an innovation-friendly country of 8 million, 25,000 life-sciences researchers work in the private sector and at 55 research facilities primarily devoted to life sciences.
Austria has a dual educational system that makes it easy for life-sciences organizations to recruit highly qualified employees. Austria has an enormous talent pool in life-sciences study programs.
Austrian medical universities have produced many renowned researchers, including Karl Landsteiner and Konrad Lorenz. Vienna General Hospital is the fourth largest in Europe and is located in the heart of Europe.
Austria has a high quality of life, but its labor costs are lower than those in the U.S.
It is a pleasure to welcome you to Austria.
The Austrian Business Agency has helped attract 14 billion in foreign direct investment.
The ABA supports organizations with tailored services at no cost on all issues relating to location, setting up operations, and searching for skilled employees by linking companies to research institutes, funding institutions and other key players, assisting in finding laboratory space, and providing information that can helpensure your successful start in Austria
You can learn how starting in Austria can benefit your bottom line.