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The Example Of The Pharmaceutical Industry In The Celtic Tiger

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Par   •  19 Février 2013  •  555 Mots (3 Pages)  •  944 Vues

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The pharmaceutical industry and research in the field of chemistry are now an important part of the Irish economy which did not, however, pharmaceutical tradition before. Bristol-Myers Squibb (formerly Squibb) is the first company to settle in the country, followed in 1972 by Pfizer (patent for Viagra). Today eight of the top ten laboratories worldwide have chosen to design their products in Irish land and not without reason. Elan, Johnson & Johnson, Abbott, Roche ... so many big names who have invested nearly $ 40 billion in less than 20 years helping to develop strong Irish economy.

Of the early 1980s, the IDA (Industrial Development Agency) strongly encouraged the establishment of the pharmaceutical industry in Ireland. A prosperous economic time is put to the test: the oil shocks and the departure of several large multinational countries grow the economy to cope with many disappointments. However, from the 90s Ireland displays a spectacular economic recovery so she gets the highest rate of growth of the European Union with an average of 9% between 1994 and 2000. The origin of this growth can be explained by several factors: a policy of opening the country to the world with rates of corporate tax low and favorable fiscal policy, the lifting of EU funds important one hand implementation of attractive, young and qualified ... The tax advantages offered to foreign investors will allow them to "transit" goods in Ireland with the assurance of being able to handle the export price. Many laboratories especially turned to chemistry (basic as organic ... Abbott) and will take this opportunity to import goods and re-export without changes or with a null transformation. Ireland and attracts several large industrial including the pharmaceutical industry due to its potential for economic development but also, as was the case of laboratory Squibb, because of its proximity to Europe and its membership in the European union (thus opening the doors of the European market laboratories cost: salary can high, low taxes ...).

During the 90s the pharmaceutical industry encouraged by the country's economic policy is established in Ireland and raised its economic growth. Investment in direct flow Laboratories Americans at that time represented more than 1.3% of investments in Europe. By reducing debt, curbing unemployment and creating hundreds of jobs, the pharmaceutical industry has become a pillar of the Irish economy. In early 2000 the GDP per capita was the second highest in Europe and the industry accounted for about 20% of exports.

From 2001 the pharmaceutical sector (while Ireland plunged into inflation, sees its tourism decline sharply FMD, September 11 ...), continued to grow so exponentially. Foreign investment in direct flow of more than 28 million this year. Sales are growing at a crazy fast, so that America will become the biggest customer of the island. However, the pharmaceutical industry, which had previously helped to develop the country's economy, will now assume the role of maintaining this economy. Growth will be 6% in 2002, although the country's national product grew by only 1%. Since 2004 government policy and IDA are focusing on technological advances (1.43% of GDP in 2008), pushing research on biotechnology and nanobiotechnology thus ensuring the continuity of foreign pharmaceutical investment in Ireland. By committing to biotechnology, the government


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