JOHN WHELAN: Pharmaceuticals mask true health of Irish exports

Anyone taking a cursory glance at current pharmaceutical industry revenues and forecasts could be forgiven for thinking that all is well, writes John Whelan.

However, behind these numbers there are some major shifts that are disturbing the industry status quo and could impact severely on Ireland’s biggest export sector.

The pharma industry powered ahead last year and was the main driver of Ireland’s export growth. However, the sheer size of the industry is dwarfing all other exports and — in many cases — shielding market contraction in many other sectors.