Austria: A Hotspot for Life Sciences

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block-ctools block-entity-viewnode"> <div class="block-content block-entity-view-node"> <div class="block-content contextual-region"> <div class="row block-inner"> <div class="news-item view-mode-default"> <span class="topic"> <a href="/en/news/markets-companies" hreflang="en">Markets & Companies</a> </span> <div class="block-title"> <h1> Austria: A Hotspot for Life Sciences </h1> </div> <h2 class="subtitle"> An Attractive and Highly Sought-after Business Location </h2> <p class="teaser-text"> 12.12.2024 - An Attractive and Highly Sought-after Business Location<br /> The life sciences sector, encompassing biotechnology, pharmaceuticals and medical technology, is developing rapidly in Austria. </p> <div class="entity-main-content"> <div class="paragraph paragraph--type--gallery paragraph--view-mode--default"> <div id="flexslider-1" class="flexslider optionset-gallery row"> <ul class="slides"> <li data-thumb="/sites/default/files/styles/gallery/public/2024-12/woman_in_laboratory_c_dieter_schewig_westend61_web.jpg?h=f7d9296c&amp;itok=Rb8nQG1b" data-thumb-alt=""> <div class="row"> <div class="col-inner col-inner-9"> <img src="/sites/default/files/styles/gallery/public/2024-12/woman_in_laboratory_c_dieter_schewig_westend61_web.jpg?h=f7d9296c&itok=Rb8nQG1b" width="850" height="566" alt="" typeof="foaf:Image" class="image-style-gallery" /> </div> <div class="col-inner col-inner-3"> <div class="flex-caption">Life Sciences Laboratory © Dieter Schewig_Westend61</div> </div> </div> </li> </ul> </div> </div> <div class="paragraph paragraph--type--text paragraph--view-mode--default"> <p>The country has evolved into one of the most important international centers in this field, featuring world-renowned, cutting-edge research as well as a large number of SMEs and startups complemented by multinationals and industry leaders<em>.</em></p> <p>More than 60,000 employees in close to 1,000 life sciences companies generate revenue of about €25 billion annually. 24,000+ researchers work at 55 research institutions. According to Statistics Austria, the overall research ratio in Austria will be 3.34% in 2024, the third highest in the EU. The life sciences sector itself has an R&D to revenue ratio of 20.5%, one of the highest in the country.</p> <p>The diversity of the industry in Austria is also reflected in the approx. 750,000 different medical products originating in Austria, ranging from the simplest aids to highly complex devices. Numerous companies are expanding their life sciences R&D and production capacities in Austria.</p> <p>Boehringer Ingelheim’s Regional Center Vienna, with more than 3,000 employees, serves as the company’s global hub for cancer research and coordinates business operations in over 30 countries in Central and Eastern Europe and Central Asia. One of its key future-oriented investments is the new <a href="https://www.boehringer-ingelheim.com/about-us/corporate-profile/boehringer-expands-cancer-research-vienna-site">Angelika Amon Research Building</a>, opened in late September 2024 at a cost of €60 million. It offers an ideal working environment and state-of-the-art facilities for 150 researchers focusing on promising therapeutic approaches against cancer.</p> <p>Novartis operates two development and production centers in Tyrol, which will be <a href="https://investinaustria.at/en/blog/novartis-invests-about-eur-500-million-in-its-austrian-facilities/">expanded by 2025 at a total cost of €500 million</a>. Over the past ten years Novartis, which produces monoclonal antibodies used to treat autoimmune and rheumatic diseases as well as cancer, has invested more than €2 billion in Austria.</p> </div> <div class="paragraph paragraph--type--gallery paragraph--view-mode--default"> <div id="flexslider-2" class="flexslider optionset-gallery row"> <ul class="slides"> <li data-thumb="/sites/default/files/styles/gallery/public/2024-12/novartis_standort_schaftenau_c_novartis_osterreich_1_web.jpg?h=707772c7&amp;itok=CkoYPtxu" data-thumb-alt=""> <div class="row"> <div class="col-inner col-inner-9"> <img src="/sites/default/files/styles/gallery/public/2024-12/novartis_standort_schaftenau_c_novartis_osterreich_1_web.jpg?h=707772c7&itok=CkoYPtxu" width="850" height="566" alt="" typeof="foaf:Image" class="image-style-gallery" /> </div> <div class="col-inner col-inner-3"> <div class="flex-caption">Novartis plant in Tyrol, Austria © Novartis</div> </div> </div> </li> </ul> </div> </div> <div class="paragraph paragraph--type--text paragraph--view-mode--default"> <p>Takeda is investing a three-digit million Euro amount to build a <a href="https://investinaustria.at/en/news-events-press/global-player-takeda-is-building-a-research-and-development-laboratory-in-vienna-donaustadt/">"laboratory of the future"</a> for some 250 researchers in Vienna's Seestadt district by 2026. The focus will be on biotech drugs and gene therapies. Moreover, it is committing approx. €100 million by 2025 to strengthen its long-term focus on the production of biologics at its Linz site. In September 2024, Takeda announced that it developed an innovative medicine at its Viennese facility against the ultra-rare disease cTTP, a blood clotting disorder, and is now producing it there for the global market.</p> <p>The medical technology company Syntropic Medical has developed a type of eyewear using flashes of light to improve the brain's neuroplasticity. Syntropic is a spin-off of the Institute of Science and Technology Austria (ISTA) in Klosterneuburg, close to Vienna. ISTA is dedicated to basic scientific research and postgraduate education. By 2026, it will have 1,000 employees and around 90 research groups.</p> <p><strong>ABA Advises and Supports Companies</strong></p> <p>Austria’s life sciences sector is supported by a strong national and international research network, the close cooperation between universities, research institutions and companies and attractive funding programs.</p> <p>Anyone considering setting up or expanding a life sciences company in Austria is welcome to contact the <a href="https://aba.gv.at/en/services/invest-in-austria/">Austrian Business Agency</a>, which provides free assistance on issues such as financing and funding opportunities or finding qualified staff and suitable premises. 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