Why this is important to Wisconsin businesses: Wisconsin companies with products or services for the drug development market may find opportunities.
Bulgaria is becoming a hub for pharmaceutical clinical trials. According to Germany Trade & Invest, Bulgaria ranks fifth among European countries for the number of clinical trials conducted there.
Legislation the government approved in 2024 probably plays a significant role in attracting the activity. The Bulgarian Drug Agency is now required to approve requests to conduct pharmaceutical tests within 35 days—much faster than the average timeframe in Europe.
In fact, Bulgaria is among the top 20 countries worldwide in the number of clinical trials conducted, with the sector valued at $330 million in 2025, according to Dallas-based Cromos Pharma, an international contract research organization.
Cromos cited Bulgaria’s well-established regulatory framework, highly qualified medical professionals, and advanced infrastructure for clinical research, as well as a cost-effective environment for conducting clinical trials.
As of the end of 2024, Bulgaria had 790 ongoing clinical trials, with an average of 200 new studies approved each year and 12,000 patients participating in them on an annual basis, Cromos said. The largest number of trials involved potential treatments for cancer, followed by those for skin, lung, nerve and brain, and heart disorders.
Bulgaria has more than 1,000 hospitals and clinical research sites, and major cities have access to state-of-the-art facilities.
Multinational companies such as Merck, Pfizer, Roche, AbbVie, Eli Lilly, Janssen, and Amgen are already active there and work closely with local doctors and research institutions.
Overall, the pharmaceutical industry in Bulgaria has sales of more than $3 billion a year and is growing rapidly. Local production focuses primarily on generics and cannot meet domestic demand, so the country depends heavily on imports, posing opportunities for Wisconsin pharmaceutical companies to enter the Bulgarian market.
Wisconsin companies can also benefit by collaborating with contract research organizations or by supplying specialized equipment for labs that conduct clinical trials. Trade fairs include BULMEDICA/BULDENTAL in Sofia and MEDICUS, DENTO, GALENIA in Plovdiv.
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