Innovation hub ‘will further boost pharma exports’

Ireland’s plan to develop its health innovation hub will see the pharmaceutical sector surpass its record €55bn annual exports, according to John Perry, the minister for small business.

Mr Perry told attendees at yesterday’s Irish Pharmaceutical Healthcare Association (IPHA) breakfast seminar in Dublin, that pharma now accounts for 50% of all Irish exports, with nine of the top ten pharma and 15 of the top 25 medical technology companies now having significant operations in Ireland. The industry contributes total tax receipts of €3bn annually to Irish economy.

“Over the coming years, through investments in Innovation Fund Ireland, the State will partner with leading international venture capitals to provide liquidity to support the growth of world-leading high technology companies in Ireland.