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International Internet Magazine. Baltic States news & analytics Monday, 11.12.2023, 02:58

US biotech giant Biogen launches operations in Lithuania

BC, Vilnius, 04.12.2020.Print version
US-based biotech giant Biogen has this week launched operations in Lithuania where it plans to carry out clinical trials and other projects with local partners. Biogen said on Friday it opened its office in Vilnius on December 1, writes LETA/BNS.

Mikko Fernstrom, head of the Lithuanian unit, said this is the first part of the company's long-term commitment to Lithuania. Later, Biogen will look for opportunities to continue investing in the country.

"The Lithuanian market is very important to us; we see a lot of scientific potential accumulated here," he said in a press release. "We believe that we can develop medical innovations with Lithuanian partners." 

Biogen is simultaneously opening units in Latvia and Estonia.  

The company develops drugs to treat neurological diseases such as multiple sclerosis, spinal muscular atrophy and others.

The group's revenue rose by 6.9% to 14.38 bn US dollars last year, with 59% generated in the US market. Its net profits jumped by 31.6% to 5.89 bn dollars.

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