The yin and yang of pharmaceutical companies

Some 50% of Ireland’s exports are linked to pharmaceutical production, and Ireland is the second largest net exporter of medicines in the world. According to the Industrial Development Agency (IDA) Ireland, the estimated replacement value of the Irish pharmaceutical sector is more than €40 billion. Furthermore, 20% of research and development in Ireland goes towards research and development of chemicals and chemical products. However, the industry’s research integrity and overall benefit to the public has constantly been questioned. Some argue that although newer drugs may be superior to existing ones, the exponential increase in prices imposes an unnecessary burden of expense. Others counter that the long-term benefits outweigh increasing costs, since even small improvements in current drugs can lead to scientific breakthroughs down the road. Compounding the controversial role of pharmaceutical companies are those of researchers and prescribing physicians – are they co-operative conspirators or consumer crusaders?