Pharmaceutical exports up 40% in '05

Haim Horvitz, head of the pharmaceutical department at IMA, said the sector has grown 40% each year for the last five years but is expected to slow slightly this year. He estimated that 2006 drug exports would increase 20% to 30% to around $3.15b.

Pharmaceutical exports grew 40 percent to $2.5 billion in 2005, capping off 800% growth in the industry over the last decade, the Israel Manufacturers Association said Wednesday. Haim Horvitz, head of the pharmaceutical department at IMA, said the sector has grown 40% each year for the last five years but is expected to slow slightly this year. He estimated that 2006 drug exports would increase 20% to 30% to around $3.15b.