It might surprise you to learn that nine out of ten of the world’s largest pharmaceutical companies are established in Ireland. Why is this? Well, pharma companies enjoy the benefits of an English speaking population, friendly business environment and a favourable tax environment and a well- educated workforce. For those planning on coming to Ireland, once you can put up with the rain, Ireland is a great place to live. Come to study in Ireland and you’ll enjoy a friendly, safe society with plenty of amenities and a great educational system. It also happens to be a location that has built up a thriving pharmaceutical and medtech industry.
What’s attractive about Ireland?
Ireland boasts one of the world’s lowest corporate tax rates at just 12.5%, making it a desirable location for active businesses in Europe as well as the rest of the world. These tax incentives mean that Ireland has one of the lowest statutory corporate tax locations. This has encouraged over one thousand multinational companies to choose the Emerald Isle as their European base.
Pharmaceutical and MedTech focus
Interested in building a career in life science sectors? By choosing to study in Ireland, you are putting yourself right in the centre of the industry. Ireland is the largest MedTech employer in Europe; this sector employs over 25,000 people directly, and a further 25,000 are employed providing services to the sector. Similar numbers are also employed in the pharma/biotech industry. As well as corporate tax relief, Ireland also offers a 25% tax credit on qualifying research and development making it a great incentive for pharmaceutical organisations.
19 of the top 20 global pharmaceutical and biopharmaceutical companies are based in Ireland for good reason. By establishing their manufacturing here, this industry has great geographical proximity to the mainland European markets. Easy international shipping across the Atlantic is very beneficial for pharmaceutical exports to North America. Five of the world’s eight top selling drugs are produced in Ireland, making it the world’s largest net exporter of pharmaceuticals and a globally recognised centre of excellence in pharma.
High employment rates
The pharmaceutical industry in Ireland benefits from high employment rates and well-educated experts from which to learn. Ireland in general boasts a well-skilled, educated English speaking population; being based in the EU gives people the ability to hire workers from other EU member states also. Over 65% of those employed within the pharma/medtech sectors have a third-level qualification so it’s a great area for graduates to find employment.
Ireland is a great place to gain a third level qualification while also enjoying a vibrant culture. It is one of the most globalised and open economies in the world with over 35,000 international students from over 160 countries choosing to study in Ireland. At Innopharma Labs, we have a fantastic record for post-graduate employment with 70%+ of our graduates securing employment within six months of graduation. If you’re interested in benefitting from the expertise of a booming industry and opening the door to your international career, our international courses will give you the boost you need to move your career to the next level.