New report demonstrates the growing importance of Northern Ireland’s pharmaceutical and life sciences industry
A report commissioned by the ABPI has found the life sciences sector, which includes the pharmaceutical industry and medicines manufacturing, in Northern Ireland is thriving.
The report by the Fraser of Allender Institute reveals the life sciences sector supports 18,000 jobs through Northern Ireland with employment in pharmaceuticals and medicines manufacturing increasing by 6% since the last tally in 2015 and wider life sciences employment increasing by 12% in the same period.
Life sciences is now the joint second-biggest spender on R&D in Northern Ireland alongside the machine industry, investing £74 million in 2018 according to the latest NISRA data.
Colette Goldrick, Director of ABPI Northern Ireland said:
“Science will help us beat this pandemic and good-quality jobs will help us deal with its economic fallout. Northern Ireland’s thriving life sciences sector provides both. Public and private enterprises are already having a positive impact on the lives of people across the country and today’s report shows there is a solid foundation for growth in the future. The message is clear: our sector is flourishing.”
Minister for the Economy, Diane Dodds said:
“Northern Ireland has a burgeoning Life and Health Sciences sector, which contributes over £1billion to the Northern Ireland economy per year. Given its potential for growth, my new economic recovery plan ‘Rebuilding a Stronger Economy’ identifies the sector as a priority sector for targeted future investment, so I was pleased to read the findings within the Fraser of Allander Institute report.Many of these findings are outstanding and are testament to the hard work and commitment of the companies within the sector and the globally competitive research capabilities of our two universities. As we face into a period of significant change associated with EU Exit and the potential reconfiguration of global supply chains post COVID-19, this report can be used to inform how we can build on the success of the sector.”
For more information, please read the report.