Pharmaceutical sector 'worth 拢1.7bn to Scottish economy'

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The pharmaceutical industry is worth 拢1.7bn to Scotland's economy and directly employs more than 5,000 people across the country, a report has found.

The Fraser of Allander Institute (FAI) said the sector exported 拢462m worth of manufactured goods a year.

It also found it was the manufacturing sector's second biggest spender on research and development (R&D).

However, FAI said there was evidence to suggest business spending on such activity had fallen in recent years.

It stated: "Fifteen years ago, pharmaceuticals R&D spending made up almost one third of business R&D, whereas now it is around 10% in Scotland."

FAI researchers found that the industry directly employed 5,130 full time equivalent (FTE) people throughout Scotland, contributing 拢960m in gross value added (GVA) to the economy.

Including people working in areas indirectly linked to pharmaceuticals, it supported 17,450 jobs across the country and contributed 拢1.74bn in GVA.

'Industry is booming'

The report was commissioned by the Association of the British Pharmaceutical Industry (ABPI).

ABPI Scotland director Alison Culpan said: "Ours is a sector Scotland can be proud of.

"Our industry is booming - employing people in highly skilled jobs across the length and breadth of the country."

Earlier this month, GlaxoSmithKline announced the opening of a new 拢44m facility in Montrose to produce 400 million vaccinations a year.

In June, it was announced that a new 拢56m drug manufacturing "innovation centre" would be located in Renfrewshire.

Backed by funding from both the public and private sector, it is predicted to attract 拢80m of research and development investment by 2028.