BioPharmaChem Ireland calls for Government action ahead of Budget 2025 to sharpen the competitive edge and global leadership of the industry in Ireland

BioPharmaChem Ireland calls for Government action ahead of Budget 2025 to sharpen the competitive edge and global leadership of the industry in Ireland

August 23, 2024

BioPharmaChem Ireland (BPCI), the Ibec group that represents the biopharmaceutical and chemical sectors, today launched its Budget 2025 submission calling for decisive action by the Government to enhance the competitiveness of the industry in Ireland and support achievement of its sustainability goals.

With over 90 biopharmaceutical and pharmaceutical companies in Ireland, employing over 80,000 people directly and indirectly, the sector in Ireland is thriving. However, to maintain and further develop the sector's global leadership, sharpen its competitive edge and secure its future, BioPharmaChem Ireland is calling on Government to address the competitiveness challenges facing the industry.

BioPharmaChem Ireland's Budget 2025 submission outlines the critical importance of investments that are needed across four key pillars:

1. Investing in skills and talent
2. Delivering a world-class innovation ecosystem
3. Achieving our sustainability goals
4. Maintaining competitiveness

Commenting on the Budget 2025 submission, Brian Killen, Digital Transformation Lead, MSD and Chair of BioPharmaChem Ireland said:

"Ireland is already a global leader in the BioPharmaChem industry, but to reinforce this position we need a more engaged approach by Government to address the competitiveness challenges we face. The ecosystem urgently needs a Life Sciences Strategy for Ireland driven through an Office of Life Sciences and we're calling on Government to commit to action on these strategic measures to futureproof this key sector for Ireland. In the lead up to Budget 2025 and beyond, we look forward to engaging with the Government and aligning on a shared vision for the industry."

Addressing the key pillars outlined in the budget submission, Sinead Keogh, Director of BioPharmaChem Ireland said:

Ireland's budgetary recommendations ahead of Budget 2025 focus on leveraging the significant strengths of the BioPharmaChem industry, including a highly skilled workforce, a strong research ecosystem, and Ireland's manufacturing expertise. However, to keep pace internationally, we need the Government to refocus on sharpening the competitive edge and global leadership of the industry in Ireland. Our Budget 2025 submission provides a clear roadmap to achieving this and focuses on four key pillars: building the talent and skills pipeline, delivering a world-class innovation ecosystem, achieving our sustainability goals, and bolstering competitiveness through infrastructure delivery and a dynamic regulatory environment.

The pipeline of PhD graduates and availability of high-calibre skills is more critical than ever for unlocking innovation in the sector and enabling Ireland to move up the value chain towards early-stage development. Investment in higher education is essential for the industry and closing the €307 million funding gap for higher education institutions will help sustain Ireland's universities and keep them at the cutting edge of research.

From an investment standpoint, future manufacturing will be more closely aligned to locations with international reputations for biopharma research and a further focus is required to build biopharma manufacturing research at scale in Ireland. The Government should continue to scale public investment in research and innovation with an additional €50 million investment for DFHERIS and Taighde Éireann-Research Ireland in the forthcoming Budget."

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BPCI Budget 2025 Submissionpdf | 658.8 kb

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