Coveted action plan for the Life Science Industry

Sweden’s life science industry is currently under pressure. In their recent election pledges, the country’s politicians referred to investments in this industry. However, although the new government stated in the 2015 finance bill that it wants to support life science research, it has not yet presented any concrete proposals on how it intends to do this. The industry’s trade associations, however, have now put forward a coherent action plan.

There have recently been several large investments in the Swedish life science industry and these are expected to produce results in the long term. Industry representatives have identified the need for a coherent plan that enhances competitiveness through improved structures and smarter use of existing resources. It was therefore very disappointing that Sweden’s new government has not addressed the issues in the finance bill.

In late October, the trade associations LIF, Swedish MedTech and Sweden BIO consequently presented a coherent action plan for the life science industry, with the aim of strengthening Sweden’s competitiveness in this field.

Their proposals are divided into seven areas. The trade associations emphasise the importance of grants for research, as well as the mobility of researchers between academia, healthcare and industry. However, they also propose measures to create business growth, use innovative new treatments in healthcare and to attract industry to and retain it in Sweden, as well as coordinating and promoting Swedish life science.

With the trade associations’ action plan as guidance, it is hoped that the government will soon present a coherent strategy for the industry, addressing the areas that are key to strengthening Sweden’s competitiveness in this field. Setterwalls will, of course, monitor this issue closely.