Value of Pharma to UK economy demonstrated by export surge; ABPI review

2006 saw a surge in exports by the pharmaceutical industry that has earned the UK an estimated L4.2 billion ($8.4 billion) in trade surplus, a rise of over L700.0 million from 2005, according to new figures released by the Association of the British Pharmaceutical Industry.

The trade figures, published as part of the ABPI's Annual Review, show how valuable the industry is to the UK economy, says the trade body, as exports per employee top L200,000 for the first time. The figures also confirm that only the USA and Japan attract a higher level of R&D investment with more than L3.3 billion invested in the UK last year.

"These encouraging figures show that the British pharmaceutical sector remains a powerhouse for the UK economy - and serve as a timely reminder of the vital contribution this industry makes," said ABPI president, Nigel Brooksby, adding: "global competition gets fiercer every year and the UK must be vigilant if we are to retain this outstanding inward investment in the future."