The Danish pharmaceutical industry and TTIP

The Transatlantic Trade and Investment Partnership (TTIP) agreement currently being negotiated by the EU and the US is expected to lead to significant benefits for Denmark, and the pharmaceutical industry is an important driver in this. It is expected to account alone for up to 40 percent of the total expected increase in Danish exports and up to 20 percent of the total impact on Danish GDP arising from an ambitious TTIP agreement, targeting non-tariff barriers to transatlantic trade in pharmaceuticals.

The main conclusions of our study are

• The TTIP will be beneficial for Denmark and the pharmaceutical industry is an important driver behind the expected benefits.
• The pharmaceutical sector is expected to account for 63% of the growth in goods exports to the US  and 40% of the growth in total exports to arise from the TTIP.
• The pharmaceutical industry is expected to account for up to a fifth of the total impact on Danish GDP to arise from the TTIP.
• The pharmaceutical industry is expected to support 1500 additional export related jobs in Denmark as a result of the TTIP.
• The pharmaceutical industry is expected to generate DKK 290 million in additional taxes as a result of the TTIP.

The study is commissioned by Novo Nordisk A/S, Lundbeck A/S, Leo Pharma A/S

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