The Economic Footprint of the Pharmaceutical Industry – Regional Breakdown and Differentiation between Originators and Generics
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This study independently conducted by WifOR reveals how the pharmaceutical industry, one of the world’s largest industries, plays a major role in boosting the global economy across regions.
This study was commissioned by the IFPMA and aims to refine the study carried out last year on ‘Measuring the economic footprint of the pharmaceutical industry – Feasibility study’ that examined for the first time the global economic importance of the pharma industry.
The report reveals the:
- The industry has a far reaching impact on the world’s economy, with a total economic footprint of $437 billion in terms of Gross Value Added (global GDP), equivalent of the economic performance of Argentina
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The industry yields positive social consequences prompted by its global labor force. It employs as much people as the entire workforce of Belgium across all sectors. The industry hires more than 3 million people in Asia, 750,000 people in Europe, and 270,000 people in North America.
- Originators in the pharmaceutical industry contribute 60 percent of the industry’s global gross value added and 42 percent of its employment.
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