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news.The impact the pharmaceutical industry has on the Scottish economy has been revealed for the first time, with the Association of the British Pharmaceutical Industry's announcement that drugs contribute over GBP800 million to the country's economy.
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Pharma-related business contributes GBP830 million to the turnover of the Scottish economy, adds over GBP350 million to the value and injects around GBP230 million through wages and salaries, according to the Association of the British Pharmaceutical Industry (ABPI) report.
The report was carried out by EP Associates on behalf of ABPI Scotland, in association with Scottish Enterprise, to provide an assessment of the economic impact of pharmaceuticals on the Scottish Economy for the first time.
The report estimates that this industry directly employs nearly 8,000 people in Scotland, higher than the number of people in the computer industry and similar to the number employed by the spirits industry. Each of these 8,000 employees adds around GBP45,000 a year to the value of the economy.
The report also found that pharma-related business invests GBP82 million in plants and equipment, four times higher than that of textile or computer-related businesses.
The report is based on 114 companies that employed in excess of 7,800 for the year of analysis, 2003. The companies represent the spectrum of market activity for pharmaceuticals from medicine discovery to manufacture and delivery.