Pharmaceuticals worth £1.7bn to Scottish economy – research

Industry body the Association of the British Pharmaceutical Industry Scotland said the sector is booming.

Press Association
Last updated: 30 October 2018 - 12.11am

The pharmaceutical industry is worth around £1.7 billion to Scotland’s economy and employs over 5,000 people across the country, according to new research.

The Fraser of Allander Institute (FAI) also found the sector is now the second biggest spender on research and development, and exports £462 million worth of products.

Fresh data shows the industry directly employs 5,130 full time equivalent (FTE) people throughout Scotland, contributing £960 million in gross value added (GVA) to the economy.

Including people working in areas indirectly linked to pharmaceuticals, it supports 17,450 jobs across the country and contributes £1.74 billion in GVA.

The industry exports £462 million worth of manufactured goods, and supports £2.5 billion worth of industrial output every year, FAI researchers found.

Almost £120 million is spent on business R&D in Scotland by global pharmaceutical companies, the second highest in the manufacturing sector for spending on research and development after consumer electronics.

Alison Culpan, director of industry body ABPI (Association of the British Pharmaceutical Industry) Scotland, said: “Scotland is internationally renowned for our legacy of scientific excellence, having fostered great scientists and given rise to world-changing breakthroughs.

“Ours is a sector Scotland can be proud of. Our industry is booming – employing people in highly skilled jobs across the length and breadth of the country.

“As we navigate the challenges of leaving the EU, it’s more important than ever for the Scottish Government to be ambitious, working in collaboration with ABPI Scotland, our members and the wider Life Sciences community, to secure an environment for our industry to flourish, ultimately reaping rewards for patients and our economy.”

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