According to a report from Ernst & Young, the Nordic Life Sciences Sector raised €11,300 million ($14,607 million) in capital in 2013. Sales of biotechnology and medical technology companies accounted for €3,980 million and €7,300 million in revenues, respectively. Within the life sciences, the pharmaceutical industry was dominant, followed by medtech and biotech. Among European countries, Sweden ranked 6th, Denmark ranked 7th, Norway ranked 13th and Finland was 15th in the number of drug candidates under development by companies in the respective countries. Almost 80% of biotech compounds under development in Nordic countries are from companies in Sweden and Denmark. Nordic companies raised €852 million in medtech and biotech capital, accounting for 12% of the total raised in European countries, with Sweden raising the most in financing, at €533 million.

Source: Ernst & Young