Irish biotechnology is doing well, says minister

Brussels, 23 Jun 2005

Biotechnology is fulfilling its promise to become one of the key sectors in the creation of a high-tech research and industrial base in Ireland, claims Michael Ahern T.D., Minister for Trade and Commerce.

Speaking during a visit to the Irish pavilion at the BIO 2005 Convention in Philadelphia, the US, Mr Ahern said that Ireland's biotechnology industry is strong and primed for further growth.

'The Irish government is committed to a pro-business, pro-science environment to transform Irish industry,' said Mr Ahern. '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.'

Ireland currently has more than 170 companies employing 35,000 people in the pharmaceutical, chemical, medical devices and diagnostics sectors.

'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,' Mr Ahern said.

According to the Trade Minister, Ireland is now one of the world's largest exporters of pharmaceuticals, with annual exports of intermediate and finished pharmaceuticals worth over 34 billion euro. Furthermore, six out of the ten top selling drugs in the world are produced in Ireland.

Over 40 companies in Ireland, both multinationals and Irish-owned enterprises, are engaged in activities that are primarily based on biotechnological research and/or processes. These include biopharmaceutical discovery and manufacturing, diagnostics, pharmaceutical services, bioenvironmental technology and agrifood technology. A supporting infrastructure of life sciences venture capital funds, venture catalysts, clinical research organisations and service companies is emerging in parallel.

For further information on R&D in Ireland, please visit:
http:///www.cordis.lu/ireland/home.html

CORDIS RTD-NEWS / © European Communities
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