German chem, pharma industry to expand R&D budget to €10bn in 2013

14 August 2013 15:42  [Source: ICIS news]

LONDON (ICIS)--Germany’s chemicals and pharmaceuticals industry aims to expand its research and development (R&D) budget to €10bn ($13bn) this year, industry trade group VCI said on Wednesday.

The increase would come after the industry’s R&D budget reached a record of €9.6bn in 2012, rising 6% from 2011, the Frankfurt-based group said.

The chemicals and pharmaceuticals industry accounts for 17% of overall German industrial R&D spending, ranking third after the automotive and electronics industries.

The country's chemicals and pharmaceuticals industry employs about 43,000 people in R&D, or about 10% of its overall workforce, VCI said.

Internationally, Germany's chemicals and pharmaceuticals industry R&D spending ranks fourth after the US, Japan and China.

However, VCI warned that Germany needed to keep improving conditions for R&D in order to maintain its international competitiveness. The group called, in particular, for tax incentives to promote R&D.

It also said that Germany’s energy R&D should be completely funded out of the federal government budget in order to help the country’s planned transition to renewables ("Energiewende") succeed.

($1 = €0.75)


By: Stefan Baumgarten
+1 713 525 2653



AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

ICIS news FREE TRIAL
Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index