Benefits of medicines substantially outweigh the cost, says Irish trade body IPHA

New medicines help patients to recover from ill health, faster and more fully. They make it possible to prevent or slow the development of many diseases, turning for example, previously fatal illnesses into manageable chronic conditions and helping avoid the discomfort of invasive surgery, says the Irish Pharmaceutical Healthcare Association (IPHA).

They also offer cost savings and improve efficiency, delivering financial benefits to the whole health care system, through optimal management and reduction of treatment times, hospitalization and time off work. These advances have immeasurably improved the lives of Irish patients, as well as their families and care givers, the IPHA argues.

Ireland has lowest PA medicines consumption in Europe

The reality is that, for all this, Ireland continues to have the one of the lowest per capita spends on medicines in Europe. The life expectancy of those over the age of 65 has improved significantly in recent years but remains low by comparison to western European neighbors while circulatory diseases continue to be the principal cause of death in Ireland and along with cancer account for nearly two thirds of all deaths.
Not only is the pharmaceutical industry critical to the health of the nation, it plays a critical and substantial role in the Irish economy, says the IPHA, noting, for example, that:
' Currently, it generates nearly 50% of the country's exports contributing to making Ireland the largest net exporter of medicines in the world.
' Makes an annual taxation payment to the state of some 3 billion euros ($4.38 billion).
' Has invested nearly 7 billion euros in Ireland over the last nine years and, according to IDA Ireland, the replacement value of the investment by the pharmaceutical sector in the Irish economy is over 40 billion euros.