24 Jan Did you know… Ireland is a world leader in pharmaceutical manufacturing and exporting?
Denny Bros works with numerous clients in the healthcare and pharmaceutical sectors, for whom we provide a host of labelling solutions.
Our multi-page labels are particularly popular for suppliers in these industries – as a trusted and secure way to meet rigorous legislative demands for detailed product and user information, by increasing the available space on the label. We work with clients across Europe, but those uninitiated with this sector may not know that Ireland has emerged as a world-leading centre of excellence for the manufacture of pharmaceutical products.
Here are some impressive statistics about the pharmaceutical sector in Ireland:
A leading exporter
Ireland is the 7th largest exporter of medicinal and pharmaceutical products in the world, according to consultancy PharmaLex Ireland. It also reports that Ireland is the largest net exporter of pharmaceuticals in the EU accounting for over 50% of all exports from the country (2014).
Multi-billion euro sector
The pharmaceutical sector in Ireland has been growing since the 1960s and today exports associated with industry total around €65 billion, according to industry organisation Biopharmachem Ireland.
And still growing
Although growth in the pharmaceutical industry slowed significantly in Western Europe during the downturn, the output of medicines manufactured in Ireland soared during this time, rising at a Compound Annual Growth Rate (CAGR) of 15% over 2008-2014.
A major employer
According to The U.S. Department of Commerce’s International Trade Administration Export.gov website, the pharmaceutical industry in Ireland comprises 160 foreign and national companies. Across the entire sector, 25,000 people are employed directly and a further 25,000 people owe their employment indirectly to the sector.
Leading companies based in Ireland
An impressive 18 of the world’s top 20 pharmaceutical companies have manufacturing operations in Ireland, including Pfizer, the world’s largest biopharma business. The company employs more than 3,000 people in the country and has invested more than US $7 billion in Ireland since first arriving in 1969.