Israel’s pharmaceutical exports up 50% during January-September

The increase in demand for Israeli pharmaceuticals can be attributed to longer life spans in western societies, the maturing of investment in R&D and high standards of production
 
Manufacturers Association of Israel Chemical & Pharmaceutical society chairman and Teva VP Chaim Hurvitz said last week that Israel’s pharmaceutical exports rose 50% in January-September 2006 to $2.27 billion..
 
Hurvitz noted that pharmaceutical exports to the US rose 72% to $1.84 billion and pharmaceutical exports to the EU fell 3% to $300 million.
 
According to Hurvitz the increase in demand for Israeli pharmaceuticals can be attributed not only to the fact that Israel adopted advanced regulations, which allow Israeli companies to successfully compete in foreign markets but also to longer life spans in western societies, the maturing of investment in R&D, high standards of production, and compliance with European and US specifications.