Merit Medical opening in Ireland

Merit Medical opening in Ireland

The life sciences sector continues to be a cornerstone for the Irish export industry — in 2011 pharmaceutical exports were €56.7bn and medical devices accounted for over €10bn, according to Dr Niall Stobie of the Irish Exporters Association (IEA).

Ireland continues to be a highly attractive environment for pharmaceutical and medical device companies to conduct business, with significant investment announcements in 2012 from Allergan, Mylan, Amgen, Cook Medical, Abbott, Eli Lilly and Merit Medical.

“All the top 15 companies in the life sciences sector have moved up in the top 250 export rankings. Johnson and Johnson (including Janssen, Vistakon and Depuy), Pfizer Global Supply and Howmedica International (Stryker) occupy top spots in the life sciences export sector,” said Stobie in the Top 250 Exporters report published this month.

Challenges for the sector remain with the patent expiration of key blockbuster drugs, such as Lipitor and reduced manufacturing quantities, he notes.

“Pfizer, for example, is waiting on FDA approval on a selection of new drugs, such as axitinib and tofacitinib, which could generate significant revenue moving forward.

“Opportunities arise from the increase in the manufacture of generic medicinal products, which can be observed by the expansion of Mylan’s operations in Dublin and Galway.

Mylan is Ireland’s largest generic pharmaceutical manufacturer.”

The IEA has seen an increased interest from the life sciences sector to exporting into emerging markets such as the BRIC countries (Brazil, Russia, India and China), the Gulf States and Africa and this will continue in 2012.

The IEA forecast for 2012 for pharmaceutical industry exports is €55bn. “We did observe significant growth in previous years, but export growth will remain static as the pharmaceutical sector goes though transition,” said Stobie

This does look favourable for Medical Device and Medical Sales jobs in Ireland as the Medical Device sector continues to be strong in Irish economy

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