Colm Burke (Fine Gael) | Oireachtas source

The Minister has given a detailed explanation on this matter but I am concerned coming at it from a Cork point of view. Nine out of ten top pharmaceutical companies in the world are based in Cork. They have come to me to express their concern on this issue and the use of the one word "unlimited". I know that they have an exemption until 2021 and I fully accept that but they have advised me that they have to apply for a new licence in something like 220 different jurisdictions and the net cost to them will be in the order of €25 million. They are the figures that they have given to me. I had a long meeting with them to see if there was any other way around this. I am concerned that we rely so heavily on this industry that one word can make such a difference. We are not talking about one company but a number of them.

The Minister outlined the number of companies that did get the exemption and I accept what she is saying about new companies not needing to get the exemption because the issue is clear in regard to individual companies making new applications for a new drug or for the appropriate licence. The problem is that in each jurisdiction where they have to apply for the licence, they have to make a new application. It is a very legal technicality. We need to be very careful in this matter and be conscious that in light of Brexit, with Britain going out of Europe, we must do everything possible not only to keep what we have but also to make sure that new companies are attracted into the country and we do not anything that will upset that in any way. This matter needs to be given very careful consideration.