BioPharmaChem Ireland welcomes key Budget 2027 measures to drive innovation
- Enhancements to R&D, AI workforce readiness, and indigenous scaling funds set to support sector competitiveness
BioPharmaChem Ireland (BPCI), the Ibec group representing the biopharmaceutical and chemical sector, has welcomed Budget 2027’s emphasis on future-proofing Ireland’s advanced manufacturing economy through targeted investments in research, skills, and enterprise scaling.
Recognising R&D as the primary driver of innovation, BPCI welcomed enhancements to the R&D Tax Credit – specifically increased supports for outsourced research and extending eligibility to clinical trials managed from Ireland. However, BPCI notes that further modernisation remains necessary to fully capture ongoing digitalisation and sustainability activities across manufacturing operations.
Unlocking €150 million from the National Training Fund (NTF) is a critical step in preparing the workforce for the AI transition. With AI rapidly reshaping global life sciences, BPCI emphasises that these funds must be deployed rapidly through established, employer-led channels like Skillnet Ireland Business Networks.
Looking ahead to Ireland’s first National Life Sciences Strategy, BPCI stresses that effective delivery will require clear governance and dedicated resourcing through a fully funded Office of Life Sciences.
Sinead Keogh, Director of BioPharmaChem Ireland, said: "Budget 2027 signals a clear commitment to sustaining Ireland’s position as a premier global hub for biopharmaceuticals and advanced manufacturing. Equipping our workforce for digital transformation and strengthening research supports directly underpins our international competitiveness.
"We particularly welcome the new €1 billion ISIF Scaling Fund. Through our Budget submission and BPCI’s Together, for Others strategy, we called for dedicated supports to help indigenous companies attract growth capital, retain valuable IP and compete globally. To maximise its impact, the fund must be designed to also reflect the long innovation cycles, capital intensity and risk profile that characterise the biopharma sector.
"To convert this momentum into long-term economic resilience, Government must now follow through by establishing a dedicated, fully resourced Office of Life Sciences.”
