The biopharmachem sector maintained its position as the largest exporter of goods from Ireland in 2017 with record total exports of €67.8 billion, up 2% on the previous year. The sector now accounts for 55% of overall Irish exports of goods (excluding services). 

This research was released this week at BioPharma Ambition, a major international conference staged in Dublin Castle. The event is hosted jointly by the Irish Pharmaceutical Healthcare Association (IPHA), BioPharmaChem Ireland (part of Ibec) and the National Institute for Bioprocessing Research and Training (NIBRT). The conferences partners are InterTrade Ireland and the IDA.

The conference attracted a number of keynote international speakers in the areas of cancer trials, genetics, gene therapy, immunology and manufacturing.

Delegates at the conference were told that the island of Ireland was the 6th largest medicinal and pharmaceutical manufacturing hub in the world last year. Each of the world’s top 10 biopharmachem companies has a presence in Ireland.

Employment in the sector is expected to have surpassed 30,000 in 2017 when final employment figures are published later this year. The industry also indirectly supports an additional 28,000 people in providing services. Employment in the sector grew more than fivefold from 5,200 in 1988 to 29,826 in 2016.

Speaking at the conference, Director of BioPharmaChem Ireland, Matt Moran said, "Ireland continues to enjoy an impressive period of investment for the biopharma sector, most recently the announcement last week by MSD of the construction of a new biotech plant in Dublin employing 350 people. This is the latest in a series of high profile investments which has seen over €10 billion being invested by the industry so far since 2000 including over €1 billion in the last 12 months alone."

He added, "Ireland remains one of the most important hubs for biopharma in the world and we so delighted to welcome some of the global industry’s leaders to Dublin this week."

Source: www.businessworld.ie