Eli Lilly and booming weight-loss pharma industry now 20% of Irish goods exports

New report shows increasing value of GLP-1 ingredients to Irish economy

Patrik Jonsson, president of Lilly International at the Eli Lilly pharmaceutical plant in Kinsale. Lilly exports to the US have grown dramatically. Picture: Peter Pietrzak

A new report into the pharmaceutical sector in Ireland shows how the dramatic increase in exports of key ingredients for weight-loss drug manufacturing in the US are now worth €51bn - 20% of total Irish goods exports. 

The report compiled by Goodbody chief economist Dermot O’Leary reports that pharma exports from Ireland in 2025 were valued at €139bn, representing 53% of all goods exports – the highest on record. 

This growth is fuelled by the rise of exports of key ingredients in the manufacture of GLP-1 drugs such as semaglutide, used in Ozempic and Wegovy made by Novo Nordisk, and tirzepatide, used by Eli Lilly in Mounjaro and Zepbound. As a result, Irish exports of hormones and their derivatives rose from €14bn in 2024 to €51bn in 2025. 

Indeed, the growth and success of Eli Lilly's weight loss drugs is becoming increasingly pronounced. The Goodbody report, entitled The Pharmaceutical Sector In Ireland - A Health Check On Strengths, Risks, And Economic Impact, showed how almost 40% of all Irish pharmaceutical exports to the US were destined for the state of Indiana in 2024. "The meteoric rise of Indiana as an export market for the Irish pharmaceutical sector is particularly noteworthy, as it is home to one of the world’s largest GLP-1 manufacturers - Eli Lilly, which also maintains a strong presence in Ireland with two major manufacturing facilities: one in Kinsale, Co. Cork and a second in Limerick," says the report. 

Lilly's Kinsale site at Dunderrow already employs over 1,300 people.

"In addition, Eli Lilly has committed to investing a further $9bn in pharmaceutical manufacturing in Lebanon, Indiana – specifically focused on producing its GLP-1 drugs (Mounjaro & Zepbound) and their key API (tirzepatide)." 

Lilly prepares new oral obesity drug

The take-up of GLP-1 drugs in the US is growing. This week, Eli Lilly chief financial officer Lucas Montarce said the company is preparing to launch its new oral obesity drug, orforglipron, in the United States, once it gets approval from the US Food and Drug Administration. "Expect to see potentially that product coming into the market as early as Q2," Mr Montarce said at the TD Cowen healthcare conference in the US. Lilly said it had $1.5bn (€1.29bn) worth of pre-launch inventory of its pill, according to Reuters, with full commercial distrubution in the US ready.

The Goodbody Economic Report was unveiled at the annual conference of the Irish Pharmaceutical Healthcare Association (IPHA) held in the Dublin Royal Convention Centre on Wednesday. The report estimated that 75,000 workers are employed directly and indirectly in Ireland in pharma and related activities, with sectoral employment growing three times faster than the wider labour market. The industry paid an estimated €6bn in total taxes in 2023, including an estimated 18% of all corporation tax receipts. 

Ireland (€100bn) was Europe's second largest exporter of pharmaceuticals behind Germany (€115bn) in 2024, and ahead of third-ranked Belgium (€79bn). “Today’s Goodbody report shows just how important our sector has become, not just for Ireland, but for Europe, and for global healthcare. The challenge now is to ensure patients can access innovation as quickly as we deliver it," said IPHA president Shane Ryan.

Ireland has the highest number of FDA approved manufacturing sites per capita in Europe, and the report highlights how the importance of the pharmaceutical sector in regional development, with a concentration in the South-East and South-West. The report said focus of the industry in the southern regions of the State are "driving vital investment, employment and ultimately economic growth in these regions".

Meanwhile the IPHA said the new framework agreement agreed in January will deliver faster access to innovative and life-changing medicines for Irish patients.

IPHA chief executive Oliver O'Connor said the economic strength of Ireland's pharma industry should translate into patient benefit. "The new IPHA Framework Agreement marks a decisive shift towards a system that values innovation and ensures patients in Ireland can access breakthrough medicines faster. With Ireland soon taking up the EU Presidency, we have a major opportunity to lead Europe toward a more competitive, innovation‑friendly, and patient‑focused future.”