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The pharma industry is enormous, with projections by the International Federation of Pharmaceutical Manufacturers & Associations – IFPMA (2012) nearing a value of USD 1,200 billion by 2016. Not surprisingly, the pharmaceutical industry is a major global employer and with much of this growth expected to come from market expansion in emerging markets, these countries stand to benefit employment-wise as well.

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In fact, IFPMA estimated that in 2012 the pharmaceutical industry directly employed some 650,000 persons in the US and a further 663,500 persons in Europe. Significantly, this high level of employment was not limited to developed countries only but extended to low- and middle-income countries as well. Examples from Latin America included Colombia with 16,344 persons employed in the pharmaceutical industry; Ecuador with 2,856 and Panama with 450.

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 …in 2012 the pharmaceutical industry directly employed some 650,000 persons in the US and a further 663,500 persons in Europe.IFPMA 2012

The pharmaceutical industry provides substantial employment opportunities but also represents one of the most diverse employment environments available today. With a variety of both commercial and technical roles, persons of wide and varying backgrounds can seek and obtain highly sought after employment opportunities.

The majority of multinational pharmaceutical companies have very limited research, development or manufacturing operations in the Caribbean. As such, Caribbean operations tend to be sales- and service-oriented. Despite this, many opportunities not only for employment but also for regional and international advancement exist.

CaribbeanBiopharma.com will therefore endeavour to provide useful articles, insight and information on starting and developing your career in the Caribbean pharma and biopharma industries.

 

References

1. International Federation of Pharmaceutical Manufacturers & Associations[IFPMA] (2012) The Pharmaceutical Industry and Global Health: Facts and Figures 2012, IFPMA.com [Online]. Available from: http://www.ifpma.org/fileadmin/content/Publication/2013/IFPMA_-_Facts_And_Figures_2012_LowResSinglePage.pdf (Accessed: 29 October 2014)

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