Bayer receives the President of Finland’s award for long-term investment

The President of the Republic’s Internationalization Award is presented annually to internationally successful companies or cooperatives. It has now been awarded to a non-Finnish company for the first time in a new category. The main criteria were sustainable operations in Finland and generating economic value for the country.

Recipient Bayer in Finland has focused much of its research and development on long-term contraception using polymer-based drug delivery technology. Bayer’s hormone-releasing intrauterine devices were the first Finnish drug to exceed one billion euros in sales and rose to 1.04 billion euros in 2016. Hormone-releasing intrauterine devices developed in Turku have been Finland’s most exported pharmaceutical product for more than a year. decade.

– The new long-term investor award shows Finland’s interest in recognizing foreign companies as well. Bayer has affected the Finnish economy through jobs, investment, exports and innovation. It’s a foreign-owned company that really deserves this impressive award, he says Antti Aumo, Director of Invest in Finland.

Medicines manufactured at Bayer’s Turku plant are shipped to more than 130 countries. The city of Espoo is home to one of the Bayer Group’s largest global clinical research units. In addition to product development, Bayer is developing its own operations in Finland and has expanded significantly over the years.

– We are very grateful to the President of the Republic for this valuable award and proud of the recognition we have received. Finland has long been an important and favorable place for Bayer to operate and invest. Finland has a predictable, stable and research-friendly operating environment, which makes it an excellent place for an international pharmaceutical company. We are proud of our footprint and its positive effects in Finland. We have unique know-how and innovations that are valued globally, he says Miriam Holstein, CEO of Bayer Nordic.

Bayer announced earlier this year that it would build a new pharmaceutical plant in Turku and at the same time modernize its existing production plant. The total value of the investment is EUR 250 million (USD 285 million). In addition, Bayer invests approximately EUR 80 million annually in Finland, including research and development costs. Bayer’s investments in Finland over the past ten years total more than EUR 800 million. Bayer was Finland’s largest corporate taxpayer in 2020 and has been among the best payers for several years. The company has paid well over EUR 1 billion in Finnish corporate tax over the past decade.

The President of the Republic awarded the long-term investor award to Bayer Sauli Niinistö At the ceremony on November 19th. Other recipients of the internationalization award were Relex Solutions, Peikko Group and Maria 01. The award recipients were nominated by the Team Finland network, which includes Business Finland and the Centers for Economics (ELY). Development, Transport and the Environment), Finnvera and the Ministry for Foreign Affairs. Nominees for the award were nominated by business organizations.

Source: Business Finland

Source: The Nordic Page


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