§ 1. Sir N. Cooper-Keyasked the Minister of Health what amount in dollars and other foreign currencies was spent in the United Kingdom on imported drugs and medicines during the 12 months to date.
§ The Minister of Health (Mr. Kenneth Robinson)The value of pharmaceuticals imported in the year up to October, 1966, was £12.9 million of which £2.8 million was from North America.
§ Sir N. Cooper-KeyWhat proportion of the total prescriptions made up during that year does that figure represent?
§ Mr. RobinsonThe percentage is small. If the hon. Member wants an accurate mathematical figure, he will have to put a Question down on the Order Paper.
§ 17. Mr. Fisherasked the Minister of Health whether he will state the amount earned in foreign exchange by the exports of the British pharmaceutical industry during the past 12 months.
§ Mr. K. RobinsonThe value of "Medicinal and Pharmaceutical Products" 912 exported from the United Kingdom for the year up to October, 1966, was £65.15 million, of which £37.17 million was to non-sterling areas, but the net foreign exchange earnings would, of course, be much less after allowing for imports of raw materials and remission overseas of royalties and dividends, the figures for which are not ascertainable.
§ Mr. FisherIs the right hon. Gentleman aware that direct exports this year are running at the rate of over £73 million a year, which is 6½ times the level of imports, and that even this does not show the industry's true contribution to the balance of payments, because it does not include the earnings of British subsidiary companies operating overseas?
§ Mr. RobinsonI had in mind that, according to the industry itself, in 1963 it had contributed £35 million to the balance of payments. This was, incidentally, almost entirely earned by British-owned firms. The net export earnings of British subsidiaries of overseas firms slightly exceeded their net remittances abroad.
§ Mr. BraineI hope the Minister is not going to be grudging about this remarkable industry. Is it not a fact that exports in the last 12 months are 9 per cent. up on the year before? Would he not admit that this industry makes a valuable contribution not merely to the conquest of disease but also to the balance of payments?
§ Mr. RobinsonI have not contradicted this. I just wanted to get the figures right. I gave the figures in my original Answer, and for the year up to October the gross figure was £65.15 million.