Is there a market in Spain for such a venture? If so, how big and why?

The US accounts for 50% sales of the pharmaceutical market, in comparison to 23% in Europe.
Despite a higher inversion in the last few years in the Pharma sector in Europe, it’s difficult to face the the
North American dominance.

In Spain, there is a higher trend on investing on science: the pillars of R&D focus on retaining research
talent, digitalization and innovation. Nevertheless, this country has deficient funds, while other states spend
more money on this sector.

In conclusion, it would be really difficult in Spain to face such a venture nowadays, but it wouldn’t be
impossible, due to the growing trend.