The German Group Bayer annually invests around EUR 60 million in research activities in Finland, reports Helsingin Sanomat. Bayer is one of the few international groups that have their Nordic headquarters located in Finland, and it has no intention of transferring its production in the future; on the contrary, it has hired new employees. Bayer is in fact the largest tax payer in Turku and the fifth largest corporate tax payer in Finland.
The Mirena intrauterine system, for example, was sold last year in over a hundred countries, bringing in EUR 820 million in revenues. This amount corresponds to the value of approximately four passenger vessels constructed at the Turku shipyard. According to Pharma Industry Finland, the value of Finland’s pharmaceutical exports last year amounted to EUR 885 million.
In addition, Bayer is set to start collaboration with the Finnish Auria Biobank to develop new cancer treatments.
Article first published in Good News from Finland.