Fimea's finances 2020

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In 2020

Revenue from chargeable operations €25.8 million
Project funding €0.4 million
Budget funding €7.0 million
Expenditure €28,0 million
Staff person-years 278 person-years
The cost equivalence of chargeable operations was 108% (including services under public law and separate statutes)

Revenue from client fees accounts for 85% of Fimea’s funding, with the remaining15% coming from the state budget. In 2020, Fimea’s operating expenditure totalled EUR 28 million, of which personnel costs accounted for 74%. The year 2020 was an exceptional year for Fimea as far as financing is concerned due to the additional work and loss of revenue caused by the pandemic. For this reason, EUR 1.9 million was allocated to Fimea in the 2020 supplementary budget.

Of the chargeable operations, services under public law account for 91%, which mainly consists of revenue from the marketing authorisation of medicinal products in the amount of EUR 21.5 million. The remaining portion of about EUR 2.1 million is licence and inspection fees imposed on pharmacies, pharmaceutical manufacturing plants and wholesalers. Services under public law must be provided on a cost-equivalent basis in such a way that the income received from their provision equals the costs incurred. In 2020, Fimea’s cost equivalence in the aforementioned services was 105%, meaning that the income exceeded the costs by about EUR 1.2 million.

The majority of Fimea's funding comes from foreign pharmaceutical companies when they apply for a marketing authorisation for their medicinal products. The evaluation of medicinal products is, to an increasing extent, centralised under the European Medicines Agency (EMA) that assigns tasks to the national agencies in different countries. The assignments from the EMA provide Fimea with an annual revenue of EUR 4–5 million. 

The revenue from services under separate statutes are so-called quality control fees imposed on pharmacies, pharmaceutical manufacturing plants and wholesalers. This revenue is used for financing the operations of Fimea’s laboratory.

The other revenue consists of proceeds from co-funded international and national operations.