Pharma worth £1.7bn to Scots economy

Alison Culpan

The pharmaceutical industry is worth roughly £1.7 billion to Scotland‘s economy and directly supports more than 5,000 jobs across the country, according to a new report by the Fraser of Allander Institute.

The reports says the industry is now the second biggest spender on R&D and exports £462 million worth of products.

The new data shows the sector now directly employs 5,130 full time equivalent (FTE) people throughout Scotland.

In total, the sector indirectly supports more than 17,000 jobs across Scotland.

Gross wages and salaries per head in the pharmaceutical industry in Scotland are around £15,000 higher than the Scottish average, showing the comparative advantage versus other sectors.

The industry exports £462 million worth of manufactured goods and supports £2.5 billion worth of industrial output every year.

Overall, the sector has a GVA (gross value added) worth £1.7 billion.

Alison Culpan, Director of ABPI Scotland, said: “Scotland is internationally renowned for our legacy of scientific excellence, having fostered great scientists and given rise to world-changing breakthroughs.

“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.

“As we navigate the challenges of leaving the EU, it’s more important than ever for the Scottish Government to be ambitious, working in collaboration with ABPI Scotland, our members and the wider Life Sciences community, to secure an environment for our industry to flourish, ultimately reaping rewards for patients and our economy.”