The False Economist

Tuesday, November 6, 2012

Patently Obvious: The Knowledge Economy

Are you Irish ?

Yes ? Good for you.

Are you hedging all your bets on an Irish recovery coming from exporting pharmaceuticals to the sick, bald, and impotent of the world ?

Well then, you probably shouldn't click on this link.


Ok, it's not that bad really. Exports are still breaking records, in a good way, and certain factors (as always) have to be taken into account. What the Citi graph does highlight however, is that Ireland's reliance on pharmaceutical exports must not discount the effect the "patent cliff" will have on the market for medicines and other pharmaceutical goods in the near future.

Also, happy Tuesday everyone:Why Not Start Your Weekend on Wednesday ?


  1. Surely we have diversified our pharmaceutical manufacturing so as not to be reliant on a few key drugs? And have researched enough new drugs to cascade this "cliff" over into new pharma products?

  2. Or even invest in companies which make generic drugs ? Right ? Well... eh. A very brief bout of research hasn't really given me a lot of confidence in this.

    There doesn't seem to be an overarching strategy from the industry as a whole in Ireland.

    William Fry have a snappy enough report but its rather basic with a "hope for the best" conclusion:

    A fellow blogger gives a summary of some bigwigs opinions on Ireland and the patent cliff and it doesn't make for comfortable reading:

    Some have pointed out that the pharmaceutical industry does tend to fluctuate anyway but surely there is a corrolation in this instance. Constantin does the sums here :

    The irish Times links it to the shedding of almost 200 jobs in Cork back in june at Pfizer but mentions the IDA's somewhat succesful efforts to entice new Pharma firms here:

    I know that's not very satisfying but at least it's being noted . Hope that helps!