Ireland is a key global location for the pharmaceutical industry. Foreign Direct Investment for the Pharmaceutical sector in Ireland is 40 years old with Squibb (now Bristol-Myers Squibb) being the first pharmaceutical company to locate in Ireland in 1964.
The pharmaceutical sector makes an enormous contribution to the generation of wealth in the Irish economy and has experienced significant growth in recent years as evidenced by the following statistics:
Currently thirteen (13) of the top fifteen (15) companies in the world have substantial operations in Ireland. In total there are eighty-three (83) facilities employing more than 17,000 people in Ireland.
Bolstered by the availability of highly skilled staff and a supporting infrastructure, employment in this sector has grown rapidly. Between 1999 and 2006 the Irish medical device workforce has grown from 16,000 to 26,000, representing 10 per cent of Ireland's total manufacturing workforce; total direct and indirect employment in this sector amounts to approximately 36,000 jobs.