Biotech

Biotech sector of Lithuania represents world-class research. The Lithuanian invention – the medicine against cancer TevaGrastim^® is the newest worldly acknowledged medicine which is 25-35% cheaper than a similar treatment already on the market, but just as effective. The European Medicines Agency granted the marketing authorization for the Lithuanian invention to be marketed in Europe from 2009. According to the Lithuanian Biotechnology Association, Lithuanian biotechnology sector sales have grown by approximately 22% annually for the past 5 years, which is 7% more than the average 15% growth of the global biotechnology sub-sector. 80% of production is exported to over 70 countries manifesting recognition world-wide.

According to their number of employees, UAB Fermentas and UAB Sicor Biotech are considered to be major companies in Europe, employing 345 and 170 specialists respectively.

15 research institutions carry out chemical and biochemical research on protein, enzymes and nucleic acid for pharmaceutical purposes, and also execute molecular biology research on prokaryote and eukaryote cells.

16 institutions, including five major universities, train biotechnology and business specialists in cooperation with both domestic and foreign biotechnology companies. The construction and establishment of the first Baltic Medical and Pharmaceutical Valley began in the capital, Vilnius. The Vilnius Santara Valley will join the country’s top pharmaceutical companies, scientists, researchers, and educational institutions for a common research project aimed at creating new medications, diagnostics methods, and more efficient means of curing illnesses.