Pharma lobby has pressed the case for funding of new medicines

Irish Pharmaceutical Healthcare Association has said that they should be reflecting on some version of the industry that will be inspiring hope for the health of humans rather than a narrative that is twisted by misconceptions and also narrow rows regarding over price.

Ireland’s pharmaceuticals sector contributes €14.7 billion to the Irish economy and supports a total of 45,000 jobs, according to analysis by an industry group.

The European Federation of Pharmaceutical Industries and Associations represents research-based drug companies across the continent. The group is looking to counter concerns expressed by politicians and regulators about the high cost of new medicines and the pressure it is putting on public finances.

The report focuses on presenting the impact of the industry in the best light and on defending current research incentives that are, in places, under pressure.

The European lobby group commissioned PwC to assess the direct economic impact of the industry across Europe as well as the impact on health and society of the drugs it produces.

In the case of Ireland, the report says that, on top of the 30,000 employed directly by companies in the sector, a further 5,000 are employed in suppliers to the sector.

The report then gives an assessment of the jobs created as a result of spending in the economy by its employees. In the case of Ireland, the report says this amounts to another 10,000 jobs.