Biotechnology industry 'primed for further growth'
Ireland’s biotechnology industry is strong and primed for further growth, a government minister claimed today.
Trade and Commerce chief Michael Ahern said the area was now fulfilling its promise to become one of the key sectors in the creation of a high-tech research and industrial base in the country.
On a visit to the Ireland Pavilion at the BIO 2005 Convention in Philadelphia, Mr Ahern said the government was committed to a pro-business, pro-science environment to transform Irish industry.
“It is making an unprecedented level of investment in science and technology to create a vibrant and well-supported biotech research community, giving a substantial resource for technology solutions and the basis for a stream of technology-based start-ups,” he said.
Ireland currently has more than 170 companies employing 35,000 people in the pharmaceutical/chemical, medical devices and diagnostics sectors and is the European home to household names such as Johnson & Johnson, Pfizer, Wyeth, Schering Plough and Genzyme.
“Add to this mix a large-scale government investment in research and an increase in entrepreneurial and venture capital activity and we can see why Ireland is emerging as a truly world-class life sciences cluster,” Minister Ahern said.
“Ireland is now one of the world’s largest exporters of pharmaceuticals with annual exports of intermediates and finished pharmaceuticals worth over 34 billion euro (£22.7bn) and with six out of ten of the world’s top selling drugs produced in Ireland.”
Among the Irish companies taking part in Bio 2005 are Celtic Catalysts, EiRx Therapeutics, Opsona and Pharmaplaz.
The Ireland pavilion hosts the Irish Biotechnology Industries Association, which represents 40 Irish companies, Enterprise Ireland, IDA Ireland and Science Foundation Ireland.
