UK Drug Exports Up 9% In 1996

UK-produced medicines produced L2.25 billion ($3.65 billion) worth ofoverseas earnings in 1996, up 6% on 1995, says the Association of the British Pharmaceutical Industry.

UK drug industry exports rose 9% to L5.36 billion ($8.70 billion) last year. However, imports were up 11% to L3.11 billion ($5.04 billion). The rise in imports was noted by ABPI director-general Trevor Jones, who said it provided "a timely reminder" to the new Labour government that "the industry requires a stable environment if it is to continue to make such a major input to the health and wealth of the nation."

The ABPI also notes that the balance of UK drug exports to other European Union countries rose 65% in 1996. With exports of $2.94 billion and imports at $2.05 billion, the trade balance was L896 million compared to L542 million in 1995.