Mr. Rónán Hession:

We published an economic evaluation in October 2016 around budget time that gave a sectoral breakdown. In terms of the sectors, 42% of the credit was in manufacturing, 32% was in ICT and 15% was in professional, scientific and technical activities. Some of the pharma sector could be in either manufacturing or the scientific category. The credit works by giving €1 back for every €4 spent on qualifying research and development which can be offset against a company's corporation tax bill. It is not linked specifically to pricing with an objective of the research and development tax credit being to make drugs more affordable at the other end. The area of drugs pricing is obviously complex and they are sourced and developed all over the world.