Price Pressures On The Pharmaceutical Industry May Harm Economic Recovery

BMI View: The Irish pharmaceutical industry contributed to 26% of total commodity exports in 2010, equating to US$31.03bn. R&D invesment in Ireland, combined with strong export-directed production, form a substantial proportion of GDP. As a result, it is BMI's view that price erosion mechanisms on medicines may temper Ireland's economic recovery. Price pressures on medicines enforced by the Irish government may encourage pharmaceutical companies to leave, resulting in a drop in pharmaceutical production and investment and lowering the country's pharmaceutical export capacity. Furthermore, price pressures from other European governments may lead to a decline in the value of Irish pharmaceutical

To read the full article, please choose one of the following options: