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Why Ireland’s Economy Needs Big Pharma
Why Ireland’s Economy Needs Big Pharma
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Phụ đề (23)
0:00
Three multinational companies drive almost half of
0:02
Ireland's tax revenue. If they leave, Ireland has a problem.
0:05
That was the warning from Ireland's fiscal watchdog in February.
0:09
The three firms in question? Two tech companies and one US-owned Pharma group.
0:13
This beautiful Ireland, it's Ireland of 5 million people has got the entire US pharmaceutical
0:23
industry.
0:24
That dependence has caught Washington's attention.
0:27
In 2025, Donald Trump accused Ireland of taking advantage of US pharma companies.
0:31
Ireland is quite dependent on the pharmaceutical industry. Last year in 2025,
0:37
over 50% of the country's total exports were medicines and pharmaceutical products.
0:42
Our growth has been driven largely by foreign direct investment. The risk then for us is whether
0:50
foreign direct investment will continue to flow into Ireland
0:53
at the rate that it has over the last 50 years.
0:56
So how did Ireland become so reliant on pharma?
0:58
Pharmaceutical products, especially the branded drugs are high value products and they have high
1:04
value-to-volume ratios which means that they are less sensitive to transportation costs.
1:09
For decades, Pharma companies poured into Ireland drawn by low taxes,
1:13
R&D incentives, and a highly skilled workforce.
1:16
But that model comes with risk.
1:18
It may be that over coming decades we see a slowing of foreign direct
1:21
investment given what's going on in the geopolitics of the world. And that case,
1:26
Ireland will rely more on homegrown businesses to create jobs and to create growth.
1:31
If that investment slows, so could Ireland's growth.
