Drugs 'patent cliff' putting economy at risk, says Dept
The Department of Finance is warning that the economy should shrink by 4% over four years, thanks to the "patent cliff".
It has published new research this morning suggesting that the value of Irish exports will fall significantly because the patents on drugs made here are expiring.
It also warns that Corporation Tax could fall slightly as a result of falling profits at pharmaceutical companies.
Ireland is responsible for 7.4% of the drugs market, or two out of every 27 tablets sold, worldwide.
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