Industry & Business

€5 Billion Investment in Irish BioPharma Sector

 Breaking News
  • Strabane Manufacturer to Invest Over £7 Million in Ambitious Expansion Strabane-based Fabplus is planning to more than double its workforce and turnover with support from Invest Northern Ireland. The investment is part of a three year expansion plan to increase its market share in the Republic of Ireland and Great Britain, and gain a foothold in mainland Europe and Scandinavia. Recruitment is underway to employ 83 additional staff at [...]...
  • PM Group Appoints a New Non-Executive Director Michael McNicholas has been appointed as a Non-Executive Director of Project Management Holdings (PM Group), the Irish headquartered international project delivery specialists. Michael McNicholas. Michael has over 35 years’ experience in senior leadership positions in the public and private sectors. He is the former CEO of Ervia, NTR plc and Managing Director of ESB International.  During his [...]...
  • Center Parcs Signs Contract With John Sisk & Son As construction activity on the much anticipated €233 million Center Parcs Longford Forest resort in County Longford ramps up, the company has announced it has formally awarded two major construction contracts to Dublin-based construction firm John Sisk & Son. The contracts for the construction of the 470 lodges and 30 apartments as well as the state-of-the-art centre [...]...
  • Medi-Shower Invests in Innovation to Drive Export Growth Multi-award-winning manufacturer Medi-Shower has created ‘smart showerhead’ technology which can reduce the risk of Legionnaires disease. The cutting edge product, developed with R&D support from Invest Northern Ireland is designed to meet the high requirements for hygiene within the healthcare sector. It reduces the risk of waterborne infection from bacteria that can build up due to poor design [...]...
  • EIB Loan Will Trigger €180 Million Investment Programme in Fingal Fingal County Council has signed a €70 million Framework Loan Agreement with the European Investment Bank (EIB) which will trigger a €180 million investment in strategic infrastructure projects within the county’s Capital Development Plan. This represents the first EIB support for county-wide investment in partnership with an Irish local authority for more than a decade [...]...

€5 Billion Investment in Irish BioPharma Sector

€5 Billion Investment in Irish BioPharma Sector
February 03
12:18 2017

Capital investment projects valued at €5 billion have been recently completed or are currently in progress across the Irish biopharma industry, according to Matt Moran, Director of BioPharmachem Ireland, the Ibec association representing the biopharma, pharma and chemical sectors in Ireland. BioPharaChem Ireland’s primary aim is to ensure that Ireland remains a recognised global centre of excellence for innovation and development in pharmaceutical, biopharmaceutical and chemical supply.

“There has been a significant uplift in investment in Ireland,” Moran said. “It is looking positive at the moment for the country.” Generating over €60 billion worth of exports (about half of total country exports), the sector is a major contributor to the Irish economy.

“We are very much in expansionary mode,” Moran added.

However, to maintain this momentum, the Irish biopharma sector faces a number of key challenges, which were outlined by Moran in a keynote presentation at the recent National Manufacturing & Supply Chain Conference & Exhibition held at the Citywest Hotel, Dublin.

 He identified a number of key challenges facing the Irish biopharma sector if it is to maintain its current competitive advantages and continue in its role as a global centre of manufacturing, supply and development for the entire pharma sector – from small through medium to large molecule.

Ireland needs to ensure that it continues to create a competitive environment to promote growth, innovation and operational excellence. While it has a competitive rate of corporation tax, Ireland’s personal tax regime may prove problematic in attracting and retaining talented people within Irish industry. While Ireland’s talent pool remains a key global competitive advantage, it is essential to continue to ensure that highly trained people are available for the biopharma industry. Similarly, it is crucial that Ireland’s reputation as a global hub for innovation and manufacturing excellence is maintained.

Another key advantage enjoyed by the biopharma sector is the productive collaboration between industry, academia and government agencies. Over half of the Irish biopharma workforce has third level education. It is vital that this academic collaboration continues to consolidate Ireland’s position as a knowledge-based economy and as a primary location for R&D.

Continuity of investment in education is critical to ensuring that the necessary skills remain available to the industry. BioPharmachem Ireland advocates an increase in spending on science, technology and innovation to 2.5% of GDP by 2020.

“Ireland is recognised as a leading global location with regard to compliance with statutory and quality regulations,” Moran noted, indicating that this gives Irish companies a key competitive advantage over industries in other regions around the world. “The biopharma sector is very important for the country and it has the potential to grow further. It is important that we are not complacent. Our infrastructure needs to be state-of-the-art. Taxation, especially personal taxation, needs to be looked at.”

About Author

editor

editor

Related Articles






New Subscriber





Subscribe Here



Advertisements
































National Manufacturing Conference & Exhibition 2016

NIBRT Springboard Success Stories



Upcoming Events

  • No upcoming events
AEC v1.0.4