Danish pharmaceutical companies increased their sales to overseas countries by 20 per cent in the first four months of this year compared with the same period of 2002, according to Invest In Denmark.
Progress in medical exports has been most marked in the US with a growth of 50 per cent in relation to the same period in 2002. Invest In Denmark is likely that medical exports to the US in 2003 will top DKK 5 billion (€673 million) compared with last year's exports of DKK 4.3 billion.
The vast majority of total exports of medicine go to the USA, Germany, the UK, Sweden and France, which together buy 50 per cent of all Danish medical exports - compared with around 40 per cent 10 years ago, according to a report in local newspaper Børsen.
The pharmaceutical industry is currently Denmark's most important export sector with earnings of just over DKK 30 billion annually out of total exports of DKK 442 billion.