Every cloud has a silver lining. The pandemic has served to highlight the value of the biotechnology industry as an essential and strategic sector. According to the AseBio 2020 report, in the last two decades it has consolidated itself as an industry of reference in Spain, with 790 biotech companies and an impact on the economy of more than 10,100 million.
Investments in science and innovation in biotechnology have generated significant revenue streams, directly contributing more than 4.2 billion euros per year to the State coffers through fiscal contributions, close to 0.4% of GDP.
Biotech companies have thus earned their place as a strategic sector thanks to their intensive R&D activity and their ability to innovate and provide solutions to major challenges. The industry has proven to be at a high level to respond to the current health emergency caused by COVID, but it is also marking territory in the green transition process or in the 2030 Agenda.
It is an important alternative for generating new opportunities for economic growth with a high quality of employment and a high social impact compared to the economic model that has prevailed in recent years. Not surprisingly, biotechnology is proving to be key to protecting people's lives without forgetting the health of the planet.
According to AseBio, seven out of every ten drugs in development in the world today are biotechnological. But it also contributes to the green transition through sustainable agri-food and the bioeconomy. Thanks to agrobiotechnology, the Environmental Impact Quotient has been reduced by 18.4%, as well as saving millions of cubic metres of water in crops in Spain.
Among the main Spanish listed companies in the sector this year, Bioseach stands out with a revaluation of more than 55%, but on the verge of exiting the market after Kerry's takeover bid. Rovi and Almirall are also shining brightly. Both laboratories are up 54% and 36% on the stock market, respectively, offsetting the adjustments suffered by other companies in the sector such as Grifols and Faes.
In any case, the upward path of the former and the recovery potential of the rest remains intact, according to analysts, who in general find no weaknesses in the sector. Perhaps the main concern comes from Oryzon, which still has a lot to prove. Nevertheless, the experts insist, it also offers very interesting future potential with its products under development.