PharmaChemical Ireland launches "Innovation and Excellence" Strategic Plan

PharmaChemical Ireland, the IBEC group that represents the Irish pharmachemical industry, launched 'Innovation and Excellence,' its strategic plan for the sector at the annual meeting of the Drug, Chemical and Associated Technologies Association (DCAT) held last week New York, USA. The strategy launch, at a key global event for the sector, was co-hosted by IDA Ireland and aimed to highlight the attractiveness of Ireland as a location to invest and do business.

Eight of the top 10 pharmaceuticals companies in the world have major operations in Ireland, benefiting from a favorable tax regime, a highly-skilled workforce, strong compliance record and easy access to European markets. The strategy focuses on the potential impact of the sector's challenging global environment on Ireland, where the industry accounts for over half the national exports in value terms - some 44.17 billion euros ($59.75 billion) in 2008 and employs over 24,500 people.

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