The Republic of Ireland, with its population of no more than 4.3 million, represents a small but advanced market for pharmaceuticals and biotechnology. Ireland is one of the pharmaceutical industry’s leading manufacturing bases and has attracted huge levels of investment from the industry despite having little tradition of domestic manufacturing.
Most Big Pharma companies have production facilities all over the country, but many companies such as Pfizer and Schering-Plough have reduced or stopped their Irish operations in recent years, which has greatly affected the economy. However, many new investments have been made in Ireland, particularly in the biotech field. Companies such as Pfizer, Wyeth and Amgen have invested millions in establishing new biotech plants in Ireland in recent years, helping create permanent jobs and further stimulate the economy.
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