Ireland is the world's largest net exporter of medicines but spends far less than the rest of Europe on pharmaceuticals, statistics published today show.
Thirteen of the world's 15 largest drugs firms have major manufacturing operations in the Republic, including Pfizer Incorporation, GlaxoSmithKline and Schering Plough, attracted by low corporate tax rates and a pool of skilled workers.
"One of the most interesting points to come out of the research is the fact that although expenditure on healthcare has more than trebled in the period 1996 to 2004, total expenditure on pharmaceuticals ... remains low," said Mr Conn Clissman, President of the Irish Pharmaceutical Healthcare Association.
"As a nation, Irish consumers spend nearly a third less than the European average on medicines. In fact, we spend more on individual purchases such as hair treatment, cosmetics, petrol, newspapers and bus fares per week than on prescription and other medicines."
The Association did not say why the Irish, now living in one of the richest countries in Europe, spent less on medicines than their EU counterparts.
Ireland exports medicines worth about €13.3 billion in total annually, the IPHA's annual Healthcare Facts and Figuresreport showed.