Portugal is more than sun, good beach, food, and vacations. 

Portugal is mostly seen abroad as a country of good food, beautiful beaches and wonderful to spend some sunny days, but for Biotech and pharmaceutical companies, especially those that are dedicate to rare diseases, there are good opportunities. 

Why must Biotech invest in Portugal? 

The rare disease market in Portugal is quite “young,” starting almost 20 years ago with two companies, Genzyme followed by Shire, focused on lysosomal storage diseases; both companies’ success opened the way for other companies. 

However, currently, not all companies, especially startups, look to Portugal as an opportunity to invest or to start operating. 

Why?  

Portugal has been seen as having a very low pharmaceutical market price, a complicated and long process for Pricing and Reimbursement (P&R), and small and unprepared investigational centres. This is no longer true, and the National Health Authority (Infarmed I.P.) is more than ever acknowledging that Clinical trials (in all their phases), a more expedited new drug evaluation, and the sharing of knowledge are vital for Portuguese patients. 

Startups that are looking for affordable investigational centres for their new drugs candidates must consider Portugal as an opportunity. 

In 2022, the chairman of P-Bio, the Portuguese Association for Biotechnologies, said, “Small in dimension, but rich in competence and specialisation.” How can we use this knowledge in rare diseases? 

Portugal had one of the first EU National plans for rare diseases and very clear and defined hospital reference centres. This was a breakthrough for patients, hospitals, and physicians, significantly increasing knowledge in this area. 

In December 2022, the National Plan 2023-2027 for rare diseases was approved with six pillars: 

1-Improving early diagnosis  

2-Strengthening the care network  

3-Supporting Research and development  

4-Promotion Training and Capacity  

5-Strengthening patients’ rights  

6-Raise awareness and information  

The MoH stated, this plan reflects the commitment to provide a coordinated and effective response to the needs of rare diseases patients, ensuring equitable access to quality healthcare across the country. 

This opens the doors to innovation, new drugs, and treating patients that are waiting to be saved. 

Fortunately, like in the past, there are some bold start-up CEOs who have figured out the potential of the Portuguese market; however, more are needed. 

Portugal deserves to have more Startups considering it as a potential place to invest in I&D since we have centres and people rich in competence, quality, and specialisation  

Hugo Canhão has over twenty years of experience in the pharmaceutical and biotechnology industry, during the last years focusing in bringing Biotech companies (focusing on rare diseases) to invest in Portugal and Brasil. 

With his business partner, both are responsible to help some of the most important rare disease companies to be established in Portugal.