Why Ireland’s Economy Needs Big Pharma

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0:00Three multinational companies drive almost half of

0:02Ireland's tax revenue. If they leave, Ireland has a problem.

0:05That was the warning from Ireland's fiscal watchdog in February.

0:09The three firms in question? Two tech companies and one US-owned Pharma group.

0:13This beautiful Ireland, it's Ireland of 5 million people has got the entire US pharmaceutical

0:23industry.

0:24That dependence has caught Washington's attention.

0:27In 2025, Donald Trump accused Ireland of taking advantage of US pharma companies.

0:31Ireland is quite dependent on the pharmaceutical industry. Last year in 2025,

0:37over 50% of the country's total exports were medicines and pharmaceutical products.

0:42Our growth has been driven largely by foreign direct investment. The risk then for us is whether

0:50foreign direct investment will continue to flow into Ireland

0:53at the rate that it has over the last 50 years.

0:56So how did Ireland become so reliant on pharma?

0:58Pharmaceutical products, especially the branded drugs are high value products and they have high

1:04value-to-volume ratios which means that they are less sensitive to transportation costs.

1:09For decades, Pharma companies poured into Ireland drawn by low taxes,

1:13R&D incentives, and a highly skilled workforce.

1:16But that model comes with risk.

1:18It may be that over coming decades we see a slowing of foreign direct

1:21investment given what's going on in the geopolitics of the world. And that case,

1:26Ireland will rely more on homegrown businesses to create jobs and to create growth.

1:31If that investment slows, so could Ireland's growth.

Why Ireland’s Economy Needs Big Pharma

Selecione o modo de aprendizagem:

Highlight:

3000 Oxford Words4000 IELTS Words5000 Oxford Words3000 Common Words1000 TOEIC Words5000 TOEFL Words

Legendas (23)

0:00Three multinational companies drive almost half of

0:02Ireland's tax revenue. If they leave, Ireland has a problem.

0:05That was the warning from Ireland's fiscal watchdog in February.

0:09The three firms in question? Two tech companies and one US-owned Pharma group.

0:13This beautiful Ireland, it's Ireland of 5 million people has got the entire US pharmaceutical

0:23industry.

0:24That dependence has caught Washington's attention.

0:27In 2025, Donald Trump accused Ireland of taking advantage of US pharma companies.

0:31Ireland is quite dependent on the pharmaceutical industry. Last year in 2025,

0:37over 50% of the country's total exports were medicines and pharmaceutical products.

0:42Our growth has been driven largely by foreign direct investment. The risk then for us is whether

0:50foreign direct investment will continue to flow into Ireland

0:53at the rate that it has over the last 50 years.

0:56So how did Ireland become so reliant on pharma?

0:58Pharmaceutical products, especially the branded drugs are high value products and they have high

1:04value-to-volume ratios which means that they are less sensitive to transportation costs.

1:09For decades, Pharma companies poured into Ireland drawn by low taxes,

1:13R&D incentives, and a highly skilled workforce.

1:16But that model comes with risk.

1:18It may be that over coming decades we see a slowing of foreign direct

1:21investment given what's going on in the geopolitics of the world. And that case,

1:26Ireland will rely more on homegrown businesses to create jobs and to create growth.

1:31If that investment slows, so could Ireland's growth.

Prática de escuta

Why Ireland’s Economy Needs Big Pharma

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Prática de escuta

Why Ireland’s Economy Needs Big Pharma

Highlight: