Economic Perspectives: An Analysis of the trajectory of the Pharmaceutical Industry in Spain

Authors

DOI:

https://doi.org/10.31637/epsir-2025-337

Keywords:

pharmaceutical industry, financial analysis, R&D, profitability, COVID 19, operating income, assets, horizontal analysis

Abstract

Introduction: The pharmaceutical industry plays a crucial role in the economy, contributing to GDP and generating stable, high-quality jobs. Its main functions include researching, developing, and manufacturing products for the treatment and prevention of diseases. The industry was essential in mitigating the pandemic's impact on the country. Methodology: The study utilized financial statement analysis, including horizontal analysis and profitability assessment. Data was gathered from the SABI database, which provides economic and financial information on Spanish companies categorized by their CNAE codes. The analysis began with a sector-wide review of operating income and R&D expenses, narrowing the focus to leading companies based on specific parameters. Results: The findings show consistent growth in operating income and R&D expenses, with the highest values recorded during the COVID-19 pandemic. Companies such as Bayer stood out for their significant investments in R&D and assets, underscoring their prominent position in the industry. Conclusions: The pandemic had a positive impact on the pharmaceutical sector, presenting a unique opportunity to highlight its importance to the nation's economy and public well-being. This period demonstrated the industry's resilience and critical role in addressing health challenges.

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Author Biographies

Patricia Granados González, Rey Juan Carlos University

Professor at the Universidad Rey Juan Carlos de Madrid in the Department of Financial Economics and Accounting. Degree in Business Administration and Management (ADE), Master in Financial Management and International Accounting and Master in Financial and Tax Consulting in the framework of IFRS. With extensive teaching experience in business analysis and accounting. Multiple courses in the teaching and research area, strengthening and improving my knowledge in teaching and research. Publication of articles and book chapters related to accounting, finance and education.

Ana María Moreno Adalid, Rey Juan Carlos University

Professor at the Universidad Rey Juan Carlos de Madrid in the Department of Financial Economics and Accounting. Degree in Economics and Business Administration, Master's Degree in Financial and Tax Advisory in the framework of IFRS and PhD in Economics and Business Administration. With extensive teaching experience in both undergraduate and postgraduate courses. Currently co-directing two doctoral theses. I have also directed a large number of undergraduate theses. I have taken multiple courses in the teaching and research area. My main lines of research are Behavioral Economics, International Accounting, Teaching Innovation.

Sergio López Moreno, Rey Juan Carlos University

Sergio López Moreno, currently visiting professor and doctoral student at the International Doctoral School of the same University Rey Juan Calos (URJC). Degree in Business Administration and Management (ADE), and Master in Financial Management and International Accounting. With more than 15 years of experience in financial institutions, in the area of risk analysis, intervention and internal audit. Currently, I teach balance sheet analysis in the degrees of ADE, accounting and finance and tourism at the URJC. Previously, I have also taught financial accounting, analytical and auditing. Researcher in financial statement analysis and reporting.

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Published

2024-11-20

How to Cite

Granados González, P., Moreno Adalid, A. M., & López Moreno, S. (2024). Economic Perspectives: An Analysis of the trajectory of the Pharmaceutical Industry in Spain. European Public & Social Innovation Review, 10, 1–16. https://doi.org/10.31637/epsir-2025-337

Issue

Vol. 10 (2025)

Section

Research articles

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Copyright (c) 2024 Patricia Granados González, Ana María Moreno Adalid, Sergio López Moreno

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