Pharmaceutical Price Erosion Mechanisms May Harm Economic Recovery

The Irish pharmaceutical industry contributed to 23% of total commodity exports in 2009, equating to US$26.46bn - aiding the country's economic recovery. As a result, it is BMI's view that price erosion mechanisms on medicines may slow down 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 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 exports.

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