John Whelan: Pharma in Ireland has bounced back, but how long will it last?
Eli Lilly, with facilities in Limerick and in Kinsale and Little Island in Cork, has already lowered the wholesale price of its most prescribed insulins by 70%.
Ireland’s long-term focus on the pharmaceutical industry has paid dividends for the export sector over many years, boosting revenue growth when other sectors have faltered, and ploughing billions into research and manufacturing facilities.
Hence, when a dip in revenue hit the sector in 2023, the first in over a decade, there was concern in government circles, as well as the wide-ranging supply chain that relies on the pharma sector, that we were reaching the end of an era of growth, with implications for the wider economy.
