AHK Romania: Innovative pharmaceutical industry contributes around 5% to Romania's GDP

The innovative pharmaceutical industry contributes around 5% to Romania's gross domestic product and supports approximately 57,000 jobs, directly and indirectly, according to data presented at a meeting organised by the Romanian-German Chamber of Commerce and Industry (AHK Romania).According to a press release, the healthcare system represents critical infrastructure in which access to innovative medicines and treatments brings long-term benefits."Any investment in health is an investment in human capital, because employees who come to work every day need to be healthy enough to work, create, innovate, produce and ultimately consume. Investment in healthcare infrastructure supports economic and social development," participants in AHK Romania's monthly members' meeting, entitled "Challenges and opportunities in Germany's innovative pharmaceutical industry in Romania", said.AHK Romania President Volker Raffel said innovation was necessary across all areas of the economy, as comparatively low wages were no longer sufficient to drive economic growth at a time when living standards had risen."In the energy sector, it is always said that investments are good, but expensive. But if we do not invest in new power plants and grids, sufficient energy cannot be delivered to the end consumer. And I would draw a parallel with healthcare: if we do not detect serious diseases in time, treatment costs will be higher later," Raffel was quoted as saying in the release.According to statistics cited by AHK Romania, four major non-communicable diseases in Europe - cardiovascular disease, cancer, chronic obstructive pulmonary disease and diabetes - generate estimated economic losses equivalent to around 4% of GDP.AHK Romania General Manager Sebastian Metz said prevention was the most valuable form of treatment."Investing in education, screening and early diagnosis means less suffering tomorrow and significantly lower costs for patients, families and the healthcare system. German companies in Romania have the technologies needed to provide innovative treatments, but they are also looking for reliable partners in government," Metz said.According to the cited source, Romania's innovative pharmaceutical industry contributes around 5% to the country's GDP and supports approximately 57,000 jobs, directly or indirectly, through companies operating in the sector."Romania therefore has doctors, scientists, universities, pharmaceutical universities and drug manufacturers. Measures that could stimulate the sector's development include tax incentives for the purchase of innovative medicines. At the same time, accelerating research and development activities and clinical trials represents another important direction for the future," the release said.Many innovative medicines and molecules are currently not yet available to patients in Romania."In my opinion, we should work with decision-makers, healthcare professionals, patient associations and industry partners to change the way health is perceived - not as a cost, but as a long-term investment. Investing in people's health strengthens labour market participation, boosts productivity and supports sustainable economic growth and prosperity for all citizens," said Oussama Jabri, General Manager of Merck Romania.Investment in the healthcare system brings benefits and reduces costs over the long term, while moving production closer to home in Europe is a goal in terms of ensuring security of medicine supplies, the cited source said."In Romania in particular, long-term predictability is needed. Only within such a framework can private-sector companies make business plans, assess the necessary investments and take decisions that contribute to the development of the economy and the healthcare system," the release added.AHK Romania is the official representative of the German economy in Romania. Established in 2002, it has more than 700 members and provides companies with a platform for networking and exchanging information and experience.