US demand for weight loss drugs drives Irish exports
A huge surge in Ireland's goods exports in the first quarter of 2025 was partially due to demand for weight loss drugs in the United States, the central bank in Dublin has said.
The main reason for the big rise in Irish exports was businesses getting goods into the US before President Donald Trump's tariffs took effect in April.
March was a record month for Irish exports to the US with sales worth $25bn (£18.7bn), 400% higher than the same period in 2024.
The Central Bank of Ireland said this surge was "concentrated in a single product category: ingredients used in weight loss and diabetes medicines".
It added that when the tariff effect was stripped out there was "some evidence of strong momentum in underlying goods exports related to weight loss products, ingredients for which are manufactured in Ireland".
"The pharmaceutical sector in Ireland appears well placed to take advantage of rapidly rising global demand for these products."
Weight loss drugs manufactured in Ireland
The US firm Eli Lilly makes the active pharmaceutical ingredients for its Zepbound and Mounjaro weight loss treatments near Kinsale in County Cork.
Earlier this decade it invested $800m (£597m) in the Cork facility to help meet anticipated demand for the drug.
Eli Lilly said in the first quarter of 2025 its sales of the drugs were worth just over $6bn (£4.5bn) compared to $2.3bn (£1.7bn) in the same period in 2024.
Zepbound and Mounjaro are among a class of drugs which work as an appetite suppressant by mimicking a hormone called glucagon-like peptide-1 (GLP-1).
This is an intestinal hormone which is released after eating, and typically makes people feel fuller.
Most of the US's major pharmaceutical companies have manufacturing operations in Ireland, partially for tax reasons.
That has made the US Ireland's biggest export market with pharmaceuticals the most important sector.
Trump has not yet imposed tariffs on pharmaceuticals but is threatening to do so on national security grounds.
Until that happens the majority of Irish goods exported to the US do not face tariffs.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scottish Sun
31 minutes ago
- Scottish Sun
Worried cancer patients are flooding charity with calls asking whether fat jabs are safe to use
The rise in queries prompted the charity's Dr Owen Carter to urge caution before using the jabs FAT JAB QUERIES Worried cancer patients are flooding charity with calls asking whether fat jabs are safe to use Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) WORRIED cancer patients are flooding a charity with calls asking whether fat jabs are safe to use. Some of the concerns are being raised by those already having treatment such as chemo or hormone therapy. Sign up for Scottish Sun newsletter Sign up But others are fretting that using weight loss medication could increase their cancer risk. Other questions posed to Macmillan Cancer Support's helpline include asking if they were safe for someone who has had a previous thyroid cancer diagnosis, or before cancer surgery. Studies suggest the jabs might reduce the risk of some cancers but research is ongoing and they may not be safe for everyone. The rise in queries prompted the charity's Dr Owen Carter to urge caution before using the jabs. He said: 'Recently we have seen a noticeable increase in calls to Macmillan's support line and a flurry of messages on our online community about weight loss drugs. 'It's understandable that lots of people are interested in new drugs which accelerate weight loss, particularly if they want to manage their weight before or after treatment for cancer. 'While 'quick fixes' may seem attractive, we simply do not know enough about the long-term impact of these weight loss medications to recommend them if they're not prescribed by a specialist. 'Additionally, certain weight loss medications carry warnings about a potential link with thyroid cancer. 'However, we know that eating well and staying as active as possible are proven to help people feel better, increase their energy levels and strengthen their immune systems, which can help them to manage their weight and cope better with cancer treatment.' Eating well and staying active were better ways to increase energy levels and strengthen immune systems, which, in turn, would help manage weight and cope with treatment, he added. Doc gives advice on how to tackle Mounjaro side effect of excess loose skin
BBC News
2 hours ago
- BBC News
Government pledges £900m for sports events & facilities
The government has pledged to spend £900m on major sporting events and grassroots facilities across the UK as part of a "transformational" than £0.5bn of the money will be used to support the delivery of "a pipeline of major international events", including Euro 2028, which will be hosted in the UK and 2026 European Athletics Championships in Birmingham and the Grand Departs of the men's and women's Tour de France cycling races in 2027 will also those events had already received government backing, along with a proposed UK bid to host the women's football World Cup in 2035, which the Department of Culture, Media and Sport (DCMS) is continuing to work on with the home nations football the government is yet to decide whether to support London's bid to host the 2029 World Athletics Championships, with more than 100 of Britain's most renowned athletes urging Prime Minister Sir Keir Starmer to do so earlier this Secretary Lisa Nandy said: "Sport tells our national story in a way few other things can – uniting communities, inspiring millions, and showcasing our nation on the global stage."This major backing for world-class events will drive economic growth across the country. Coupled with strong investment into grassroots sport, we're creating a complete pathway to allow the next generation of sporting heroes to train and take part in sport in communities across the UK. " In March, the former chair of funding agency UK Sport Dame Katherine Grainger told BBC Sport that it was "frustrating" that Britain was not staging more major events over the next decade, warning of "a big gap". Her successor Nick Webborn said: "We welcome the government's ongoing commitment to hosting the Tour de France, Tour de France Femmes and Euro 2028…and support their commitment to secure the pipeline of big events beyond 2028 to ensure we can continue to reach, inspire and unite people in every corner of the country."Britain is hosting the women's rugby union World Cup in England this year, along with the 2026 Commonwealth Games in Glasgow, but the government is not believed to be backing any bids for golf's Ryder Cup or Solheim part of the funding commitment, the DCMS says that a minimum of £400m will also be invested over the next four years into new and upgraded grassroots sports facilities "that promote health, wellbeing and community cohesion".On Thursday the government announced plans for a new School Sport Partnerships and Enrichment Framework for schools to ensure all young people have equal access to high-quality sport and extracurricular Oliver, chief executive of the Youth Sport Trust, said: "We are grateful to the government for listening and responding so comprehensively to our sector's united call for a reimagined approach to PE and school sport. This will be an amazing boost to those who work so tirelessly, often against the odds, in PE and school sport."Children's activity levels have been too low for too long. We welcome the government seeking to harness the vast potential of play and sport to change this."
BreakingNews.ie
3 hours ago
- BreakingNews.ie
OPW has spent €2.5m maintaining vacant properties in past five years
The Office of Public Works (OPW) has spent €2.5 million maintaining vacant properties over the past five-and-a-half years, new figures have revealed. The agency owns a total of 73 vacant properties, including 19 former Garda stations that have remained empty for more than a decade, and two decentralisation sites that have been vacant since 2007. Advertisement A total of €2.5 million has been spent maintaining these sites and buildings since the beginning of 2020. The most expensive vacant property to maintain was the former debtors' prison on Halston Street in Dublin, which has cost the OPW just over €1.1 million during that period. The agency had to seek a High Court order to evict squatters who had occupied the disused building in 2016 with the stated aim of converting it into a community art space. The OPW said the 18th century building was unsafe. Another €314,810 was spent on a vacant site on Hawkins Street in Dublin between 2020 and 2022. No further maintenance costs have been incurred in respect of this property since then. Advertisement The former Central Mental Hospital in Dundrum has cost the OPW €259,399 to maintain since it was vacated following the transfer of the National Forensic Mental Health Services to Portrane at the end of 2022. Almost €100,000 has been spent maintaining a former Garda station in Kilfinane, Co Limerick since 2020. The five-bedroom property was formerly a fever hospital and was closed as a Garda station in 2013. The 73 vacant properties include 18 former Coast Guard premises, seven former Customs properties, two former Met station sites and buildings, and two former Garda residences. It also includes two sites in Portlaoise and Waterford that were acquired as part of the ill-fated decentralisation plan in 2003, which envisaged the relocation of 10,000 jobs to 53 locations across 25 counties. Advertisement Details of the expenditure on the maintenance of vacant OPW properties were provided to Sinn Féin TD Pa Daly by Minister of State Kevin Boxer Moran in response to a parliamentary question. Mr Moran said there was a 'general approach' by the agency to endeavour to maintain properties in their current condition pending decisions on their future use. 'The OPW, like other property holding State bodies, has engaged with the Department of Housing, Local Government and Heritage and with the relevant local authorities to identify vacant properties that may be suitable for housing,' he said. 'It should be noted, however, that many of the properties managed by the OPW are commercial buildings, such as Garda stations, warehouses or office buildings that in most cases are not suitable for residential use.' The minister added that more than 50 properties had been transferred by the OPW to local authorities for housing and alternative use over the past five years.
