Best known for its folklore and tales of the Vikings, Norway’s landscape boasts postcard-like islands and the northern lights. In addition to ranking top as one of the happiest nations in the world, the country relies on sectors like oil and gas, hydropower and aquaculture to strengthen its economic growth. And of late, the biotech industry has been picking up pace in Norway, propelled by the presence of numerous top-tier biotech companies leading the way.
Key companies in the Norwegian biotech sector are international giants like the U.S.-based Pfizer and Bristol-Myers Squibb, Japanese pharmaceutical Takeda and Danish multinational company Novo Nordisk, with Swiss-based Sandoz monopolizing the industry’s revenue of more than NOK 2 billion ($18.8 billion), according to statistics from 2021. However, the country is a budding space for clinical-stage companies as well.
As Norway celebrates Constitution Day on May 17, let us take a look at some of the country’s biotech companies that are making their way to the top.