Interview with Sofia Wallström, CEO at Lif
Since taking the helm of Lif, the trade association for the research-based pharmaceutical industry in Sweden, in October 2024, Sofia Wallström has stepped into her role at a time of transformation and urgency. With Sweden facing mounting healthcare demands, international competition, and untapped innovation potential, she outlines a bold vision for how the life science sector can strengthen resilience, drive economic growth, and improve patient care. In this interview, Wallström discusses her top priorities, the challenges and opportunities ahead, and the reforms needed to position Sweden as a global leader in life science.
What are your main goals and priorities as the relatively newly appointed CEO of Lif?
Sweden and Europe are facing significant challenges. Growth has stagnated, demographic developments are increasing the pressure on healthcare, and our resilience must be strengthened in an uncertain time. The life science sector and pharmaceutical companies are crucial in addressing these challenges, as they can drive economic growth, enhance resilience, and improve productivity in healthcare. However, this requires a well-functioning ecosystem – and that the medicines being researched and developed are also used in healthcare.
Sweden is a prominent life science nation but is falling behind in international comparisons when it comes to implementing innovation and creating competitive conditions for companies to invest here. We have world-class research infrastructure, but we risk losing both investments and corporate presence if we do not act now. We need to strengthen our competitiveness – Swedens and Europes, and that requires reforms that enhance our attractiveness for investment and innovation.
This also requires strenghtened collaboration between healthcare, academia, and the industry. Sweden has fantastic potential to be a frontrunner in precision medicine, advanced therapies, and digital health – but this requires political determination and the realization of the ambitions set out in the life science strategy.
What do you see as the biggest challenges and opportunities for the pharmaceutical industry in Sweden today and in the future?
One of the biggest challenges is that Sweden is losing ground in the international competition for investments in research and clinical trials. Despite a strong research base and innovative companies, we see that more trials are being conducted in other countries. We must act to improve regulations, shorten lead times, and ensure that we have an infrastructure that makes Sweden an attractive country for global research investments.
At the same time, I see great opportunities for Sweden to be a leading nation, but this requires us to clearly signal to companies that we are interested in their presence. By creating better conditions for new treatments to reach patients quickly, we can both strengthen healthcare and attract more investments.
What trends do you think will shape the life science industry in Sweden over the next five years?
With advanced therapies and precision medicine, we are moving toward more individualized treatment, where medicines are tailored to the patient’s genetic profile. This requires regulatory changes and new financing models. The use of real-world data and AI in research and development will also accelerate. Sweden has a unique position with its health registries, but we need to improve access to them for research and innovation.
The new pharmaceutical legislation within the EU will impact the conditions for drug development and market access, making it crucial for Sweden to take an active role in shaping future regulations. This applies both within the EU and nationally, as Sweden is in great need of a pharmaceutical reform.
Demographic changes are increasing the challenges in healthcare, requiring greater productivity to ensure sufficient capacity. The introduction of new medicines is the single most important driver of productivity in healthcare and will play a major role in addressing this challenge.
The pandemic and the changing security landscape have highlighted the importance of pharmaceutical supply and preparedness. Strengthening Sweden’s total defense through robust supply chains and reduced strategic dependence will remain a central issue.
Finally, the green transition continues. Sweden, with its strong tradition of environmental work, has the opportunity to take a leading role in ensuring predictable and legally secure regulations that support innovation while not compromising patients’ access to medicines.
Access to new medicines varies across Europe. How can Lif ensure that new and innovative treatments become available to patients in Sweden?
The pharmaceutical industry is a key driver of Swedish growth and public health, but successful implementation throughout the healthcare system is required. We face significant challenges as our more than 20-year-old pharmaceutical system is not adapted to scientific and medical advancements, which means that Swedish patients do not have access to many of the new medicines approved in Europe. When new medicines do not reach Swedish healthcare, it impacts our competitiveness and companies’ willingness to invest and launch in Sweden.
We are advocating for a reform of Sweden’s pharmaceutical system — currently characterized by multiple decision-making and funding levels — into a modern, growth-oriented system that enables equal and high-quality care, strengthens competitiveness, and maximizes the pharmaceutical sector’s contribution to Sweden.
We see talent supply in the pharmaceutical industry as a barrier. What strategies do you consider most effective for ensuring knowledge transfer?
Talent attraction is a critical issue for the life science sector. We must work broadly to ensure that Sweden has the right expertise for the future; otherwise, we risk falling behind countries making major investments in research and development.
A closer collaboration between academia and industry is needed. Educational programs in fields such as pharmacy, biotechnology, and medical technology must be better aligned with industry needs, and we need more internship and trainee programs to facilitate the transition from studies to employment. AI and data analytics are becoming increasingly important in research and development, requiring greater investment in expertise in these areas.
Swedish companies want to grow and compete for talent globally, including international researchers and specialists. It is essential that they have the conditions to succeed. The expert tax is an important tool for companies to recruit key talent, and we welcome the government’s steps forward in this area.
Anything else you would like to highlight?
I want to emphasize the importance of Sweden recognizing the life science sector as a strategic future industry. The research-based pharmaceutical companies not only contribute to better health and longer lives but are also a driving force for innovation, exports, and economic growth. With the right political decisions and investments, we can create an even stronger and more competitive life science sector in Sweden.