14 Oct 2020

IRELAND: FERTILE GROUND FOR A DEVELOPING CLINICAL RESEARCH SECTOR

COREX Logistics established its international HQ in Ireland in 2014. Since then we’ve created strong links within Ireland’s vibrant pharma, biotech and MEDtech sectors.

Why did we choose Ireland?

There are several reasons why we chose Dublin for our international HQ. First and foremost, Ireland boasts a rapidly developing smart economy centred around high-tech knowledge-intensive industries such as pharma, electronic engineering, and electric power sector. In 2019, Ireland ranked 12th place in the (Global Innovation Index (GII), outranking China (14th place) and Russia (46th place). Although a tiny island with a population of just under 5 million, it is one of the seven most competitive economies in the world according to IMD. It is also in the top three in terms of business efficiency. Major global companies including Facebook, Apple, Amazon, Airbnb, AbbVie biopharmaceutical company, GE healthcare diagnostics solutions provider and others have also chosen to establish operations in Ireland. Added to these reasons is Ireland’s reputation as having a young and highly educated workforce and a pro-business climate with a supportive regulatory system focused on developing Ireland as a major force in the global economy.

Developing clinical research sector

In addition to the general economic and social environment, we also looked at Ireland’s position in relation to clinical research and life sciences. Ireland is home to 24 of the world’s leading pharma and biotech companies — including Johnson & Johnson, Sanofi, Pfizer, MSD, and Amgen, among many others.

In the last decade, the Irish Government has invested over €160 million in developing clinical research through the Health Research Board. This investment aims to significantly increase the number of clinical trials in Ireland which will not only benefit individual patients by providing access to novel treatments but will also have positive knock-on effects for the health service and the overall economy.According to a 2019 report by Clinical Research Development Ireland: “On average, each patient participating in a clinical trial will generate a benefit of €13,500 to the economy. Additionally, the health service benefits from medicines worth an average of €5,899 per patient for those participating in clinical trials.”

Growing international presence

Ireland is a well-established EU member state, and even though it’s relatively small, it is internationally recognized as a progressive country with a globally focused economy. This is why we like to think that Ireland and COREX Logistics have a lot in common. We both are rather small in size, but we have global ambitions and the ability to deliver at the very highest level. COREX Logistics is delighted to be part of Ireland’s expanding pharma, biotech, and clinical research communities. We cannot wait to develop more connections and grow our international presence through our Dublin HQ.