Dáil Éireann Debate, Wednesday - 13 July 2022
73. Deputy Colm Burke asked the Tánaiste and Minister for Enterprise, Trade and Employment his views on whether there is a role for Ireland, along with other economically advanced, similar-sized countries, in supporting the protection of innovation in the European Union Pharmaceutical Strategy in order that Ireland remains competitive for new investments and raise standards of care; and if he will make a statement on the matter. [38313/22]
Amharc ar fhreagraThe Pharmaceutical Strategy for Europe was published in November 2020. It aims to ensure access to affordable therapies for patients, to addressing unmet medical needs, to supporting competitiveness, innovation and sustainability of the EU’s pharmaceutical industry and the development of high quality, safe, effective and greener medicines, along with other measures in relation to enhanced crisis preparedness and response mechanisms, diversified and secure supply chains, and to addressing medicines shortages.
The thematic concerns and legislation that will result from the Strategy will be discussed in detail in the coming years, and my Department, together with our European colleagues and colleagues in other Government Departments, remains ready to participate in this process.
The current global economic climate is challenging, and competition for FDI investments is intense, with countries around the world actively vying for new FDI investments. IDA Ireland is continuously refining its offering to ensure that Ireland offers the most competitive, innovative, and relevant elements that targeted investments seek. This focus on the sectors that underpin a modern economy is key to our success.
Substantial investments have been made in recent years to promote innovation within the Life Sciences industry sector and provide access to technical resources through a network of research providing organisations. Specifically, a grouping of specialist Advanced Manufacturing centres have been funded to provide technical expertise in the areas of digital technologies supporting discrete and process manufacturing innovation. There has also been equivalent investment within a network of Life Science centres to develop innovative next generation therapeutics and associated technologies. This combined support at a national infrastructure level is further coupled with research, development and innovation mechanisms through enterprise agencies to ensure next generation products, services and technologies are being developed within operations in Ireland and that Ireland remains a global innovation hub for Life Sciences/BioPharma.
Additional measures which have been taken to ensure innovation across the healthcare and life sciences value chain involve collaborative innovation through national funding calls (Disruptive Technologies Innovation Fund), European Digital Innovation Hubs, and through national networking and clustering organisations.
These combined measures to support innovation ensure the resilience and growth of the Life Science sector and position Ireland to be a leading global hub to attract and retain investment. Such measures directly support both the National and European economy and associated supply and value chains.
IDA Ireland continues to emphasise the core elements of Ireland’s value proposition for foreign direct investment, which includes our pro-enterprise policy environment, our highly educated and English-speaking workforce, and our membership of the European Union. Taken together, these factors combine to mark Ireland as a stable and reliable location for investment, and it is my intention to ensure that we retain this competitive position.
