The Irish Pharmaceutical sector, which comprises pharmaceutical, fine and specialty chemical and biotechnology companies, employs over 19,000 people and is one of the world’s largest exporters of pharmaceuticals. Ireland is a world-leading centre of excellence for the manufacture of pharmaceutical and fine chemical products - 13 of the top 15 pharmaceutical companies in the world have a manufacturing base in Ireland.
Furthermore, there is a substantial indigenous industry of over 100 companies engaged in pharmaceutical/chemical related activities such as the development and manufacture of human and veterinary medicinal products, development of enabling technologies, drug discovery and delivery, and contract services (including IT services). The sector also includes fine and specialty chemical development and manufacture, e.g. starting materials, intermediates and active pharmaceutical ingredients (APIs) for the pharmaceutical sector, plant protection products and disinfectants.
Key Sector Characteristics:
- Number one location in Europe for international pharmaceutical investment
- World’s fourth largest exporter of pharmaceuticals - $100 million in 1973 to over $40 billion currently
- In 2007 total exports of intermediates and finished pharmaceuticals amounted to €29.7 billion, accounting for 40% of total manufacturing exports
- Six out of ten of the world’s top selling drugs are now produced in Ireland
Growth Areas:
Enterprise Ireland has identified the following areas as representing growth opportunities for the sector over the next five years.
- Biopharma such as early-stage drug discovery/drug delivery, enabling technologies, etc.
- Niche generics/generics-plus
- Pharma contract services such as development, analysis/testing, regulatory affairs, niche manufacturing, IT, etc.
For further details on companies within the lifescience space then click here.