SectorHealthcare and Pharmaceutical Industry
NEW WAYS OF COMMUNICATING IN THE SECTOR
The COVID-19 pandemic has shaken the health, social, and economic structure nations all over the world. Against this backdrop, certain industries’ strength and trajectory have been key to not only overcoming this crisis, but also to showcasing a high capacity to respond.
The pharmaceutical industry has emerged as the solution during this emergency. Its research role has been fundamental, not just for developing vaccines, but also in the search for coronavirus treatments. Spain’s pharmaceutical industry has led the race for a treatment, and it has been the European country to take part in the most clinical trials (fourth in the world). Thanks to major R&D investments and the constant renewal of production plants, the sector has been able to supply specific COVID-19 medications as well as pharmaceuticals and active ingredients from abroad, in collaboration with the European Medicines Agency (EMA). In a very challenging context, contingency planning and the industry’s dominance have proven key.
The economy needs to be backed by strategic sectors to overcome the crisis, and the pharmaceutical sector is one of these. This industry is a model of quality employment and foresight, also playing a major role in the production and export of new technology. This sector invested the most in R&D, with it accounting for 20% of business spending according to the 2019 survey by the National Statistics Institute on innovation in companies. This investment both has some very clear positive implications in the field of health and is very significant on the economic, social, and labor levels.
Accordingly, the pandemic has provided the pharmaceutical industry with a great opportunity to prove its value as a socioeconomic driver in Spain. Now is the time to evaluate this industry and explore how it can help the country overcome this crisis, as it will provide a very significant part of the solution. We are facing a new era of uncertainty where strength, efficacy, and action is what will restore confidence – a key intangible element of the economic recovery. As an industry, now is the time for pharma to explain itself and do it well, speaking with rigor, authority and, above all, transparency.