Friday, 22 May 2009
PharmaChemical Ireland, the body within IBEC that represents the interests of the pharmaceutical and chemical manufacturing sector within Ireland held its Annual General Meeting in Dublin today.
Despite the present recessionary conditions that prevail in Ireland the sector remains relatively strong. Export figures for 2008 recently published by the Central Statistics Office (CSO) reveal that the sector exported products to the value of €44.17 billion, which represents 51.2% of the national total. This compares to exports of €43.07 billion in 2007. Of particular note is the increase in relative importance of the sector as an exporter from 48.2% of the national total to the figure of 51.2% this year.
The most recently published figures for 2009 reflect a continuation of this bucking of overall trends by this important sector. For instance trade figures published by the CSO in April show the chemicals sector ahead by 6% whereas the value of all other exports fell by 14%. Production volumes for chemicals were up by as much as 20% in February 2009 with pharmaceutical volumes up by over 11% in the same month.
Commenting on these figures, Matt Moran, PharmaChemical Ireland Director said,
“It is encouraging that the sector has remained strong. The figures emphasise the growing relative importance of this sector to the economy here as an exporter and as an employer of graduates.”
PharmaChemical Ireland Chairman, Dominic Carolan, of Genzyme added,
“Ireland is doing well in global terms as a leading producer of pharmaceutical and chemical products. We still see investment taking place in the sector; I would estimate that around €350 million in capital will be re-invested by existing companies this year. You can add this to some high profile new facilities being constructed at the moment by Eli –Lilly, Centocor and Merck, Sharp and Dohme amongst others.”
Matt Moran concluded by saying,
“Despite these encouraging figures the global pharmaceutical industry is going through a shake out at the moment and we in PharmaChemical Ireland are determined that Ireland will be able to defend its position. To this aim we discussed the publication of a major strategy statement at our meeting today. This will provide a road map for the Irish sector for the next 20 years”