Pharmaceutical Opportunities

An Expert's View about Medical, Health and Cosmetics Products in Ireland

Last updated: 29 Jul 2011

Currently thirteen of the top fifteen companies in the world have substantial operations in Ireland. The sector exported products to the value of €47.2 billion in 2009, representing 51.2% of the national total.

Sector briefing Pharmaceutical opportunities in Ireland Why Ireland? Ireland?s pharmaceutical industry currently generates over 50 percent of the country's exports which contributes to making Ireland the largest net exporter of medicines in the world. Currently thirteen of the top fifteen companies in the world have substantial operations in Ireland. The sector exported products to the value of ?47.2 billion in 2009, representing 51.2% of the national total. Ten of the top selling drugs are manufactured in Irish sites. The sector contributes more than ?1 billion in corporation tax annually. Employment in the sector has grown from 5,200 in 1988 to 24,000 in 2009. ?Ireland ..... the largest net exporter of medicines in the Upwards of a further 24,500 jobs are based on the provision of services to the sector. Over world? half of the employees are third level graduates. Find general information on the Irish market conditions on UKTI?s website. The Doing Business Guide for Ireland gives an overview of Ireland?s economy, business culture, potential opportunities and an introduction to other relevant issues. UK Trade & Investment Sector briefing: Pharmaceutical opportunities in Ireland companies? salaries are often supplemented by Opportunities bonus and share option schemes. There are also a good number of multinational The Pharmaceutical sector in Ireland may be subsidiaries in this sector including Abbott divided into four main sub-sectors: Diagnostics in Sligo and Olympus Diagnostics ? Primary Pharmaceuticals Chemical in Clare who have very sizable operations here ? Secondary Pharmaceuticals (Final in Ireland. Dosage Form & Packaging) ? Diagnostics Biopharmaceuticals impact on the 21st ? Biopharmaceuticals Century will be as significant as the Microchip effect on society and industry in the second The primary pharmaceuticals half of the 20th century. Basically These companies are involved in chemical Biopharmaceuticals is concerned with the manufacturing producing active pharmaceutical alteration of molecules, genes and cells - the ingredients supplying the secondary basic building blocks of life - to develop useful manufacturing sector. This sector in Ireland products, processes or services such as new consists of many of the top global players medicines and therapies. In Ireland this sector including companies such as Merck Sharp and received a major boost with the construction of Dohme in Clonmel, Schering Plough in the Wyeth Biopharma Campus in Clondalkin, Wicklow, Yamanouchi in West Dublin, Dublin, at a cost of ?1.2billion the largest SmithKline Beecham in Cork, Roche in the Mid single site investment in the Pharmaceutical West, Bristol Meyers Squibb in North Dublin, sector worldwide. Along with Schering Plough, and Pharmacia Upjohn in Cork. The sector has Brinny and Genzyme in Waterford, Ireland is its greatest concentration in the Cork area steadily growing its Biopharmaceutical sector. where over the past 30 years there has been a Allied to this we have a group of indigenous steady stream of international companies companies such as Ntera (Nanotechnology), either starting up new manufacturing Archport (contract production and R&D subsidiaries or expanding existing ones. services), ThromboGenics (innovative pharmaceuticals for the prevention and The Secondary Pharmaceutical sector is treatment of cardiovascular diseases). engaged in formulating, production and packaging a final product (ie Tablet, Investing in Ireland Parenterals, Cream etc.). The manufacturing Ireland?s intellectual property laws provide technologies utilized in this area broadly companies with generous incentives to involve a wide range of automated equipment innovate. The Irish tax system offers huge involved in discrete activities such as blending support to turn brilliant ideas into the finished & mixing, forming and filling, and high speed article. A highly competitive corporate tax rate packing and distribution. of 12.5% is a major incentive. No tax is paid on earnings from intellectual property where The Diagnostic manufacturing area in the underlying R&D work was carried out in Ireland, although small in comparison to the Ireland. Pharmaceutical sectors does have a number of successful indigenous companies such as If you have any questions on the opportunities Trinity Biotech plc and Biotrin. Trinity Biotech above, contact the UKTI contacts named in this develops, manufactures and markets report. Business opportunities aimed diagnostic products for the point-of-care, and specifically at UK companies are added daily to clinical laboratory segments of the diagnostic UKTI?s website. These leads are sourced by our market whilst Biotrin specialises in providing a staff overseas in British Embassies, High range of novel and proprietary tests for the Commissions and Consulates, across all sectors Clinician and Research Scientist. Both these and in over 96 markets. companies offer good career prospects particularly to graduates in Biochemistry and You can be alerted to business opportunities on Microbiology in R&D, Technical Production, a regular basis by registering on the UKTI Quality Control/Assurance, Regulatory Affairs, website. Find out more on UKTI?s business and Business Development. The salaries in this opportunities service on the UKTI website. sector are not as attractive as those paid in the Pharmaceutical area and a life science degree holder should normally expect to start on ?16, ?18,000 bracket. However indigenous Irish UK Trade & Investment Sector briefing: Pharmaceutical opportunities in Ireland Major events and activities UKTI contacts Medtec Ireland 2011 Matt Moran 5-6 October Trade & Investment Advisor Radisson Blu Hotel British Embassy Dublin Cork. Tel: + 353 1 205 3759 Cork is the hub for pharmaceutical companies Email: matt.moran@fco.gov.uk in Ireland, Medtec has moved this year from its www.britishembassy.ie usual location in Galway which is the traditional hub for medical devices in Ireland. It will now Simon McKeever rotate between both cities. Director of Trade & Investment Tel: + 353 1 205 3769 Find full details of all events in this Email: simon.mckeever@fco.gov.uk country and sector on the UKTI website. www.britishembassy.ie New export events are added daily to the site and you can register to be alerted to them on a daily, weekly or monthly basis UKTI?s Tradeshow Access Programme (TAP) provides grant support for eligible Small & Medium Sized Enterprises (SME's) to attend trade shows overseas. Find out more about UKTI support for attendance at overseas events UK Trade & Investment Sector briefing: Pharmaceutical opportunities in Ireland Next steps - ? Arranging appointments How UKTI can help ? Organise seminars or other events for you to meet contacts and promote your British companies wishing to develop their company in the Irish market business in the Irish market are advised to undertake as much market research and This work is available via our Overseas Market planning as possible in the UK. UKTI?s team in Introduction Service (OMIS) a chargeable Ireland, with its wide local knowledge and service which assists British-based companies experience, can provide a range of services to wishing to enter or expand their business in British-based companies wishing to grow their overseas markets. business in global markets. To find out more about commissioning this This can include: work, or accessing other UKTI services and ? Provision of market information specialist advice, please visit the UKTI website ? Validated lists of agents/distributors to find contact details for your local UKTI ? Key market players or potential office. customers in the Irish market ? Establishment of interest of such contacts in working with you Whereas every effort has been made to ensure that the information given in this document is accurate, neither UK Trade & Investment nor its parent Departments (the Department for Business, Innovation & Skills, and the Foreign & Commonwealth Office), accept liability for any errors, omissions or misleading statements, and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned. Published 2011 by UK Trade & Investment. Crown Copyright © You may reuse this information (not including logos, images and case studies) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit www.nationalarchives.gov.uk/doc/open-government- licence/ or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: psi@nationalarchives.gsi.gov.uk This publication is also available from our website at www.ukti.gov.uk or for more information please telephone +44 (0)20 7215 8000. UK Trade & Investment Sector briefing: Pharmaceutical opportunities in Ireland
Posted: 28 July 2011, last updated 29 July 2011

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