We are a net importer of pharmaceuticals. Back in 1990 we had two or three domestic New Zealand companies that were mainly generics companies, but one of those companies no longer exists. The other one is a net exporter of generics out of New Zealand. It changed its model in the 1990s. It had to, to be quite frank—I talked to the then owner, who unfortunately has passed away—because of the Pharmac model. Perversely, then, a New Zealand-based generics manufacturer is a net exporter as well.
Our industry nevertheless does have a better economic impact in New Zealand—we just completed a study on this—because they invest in research and development and clinical trials and because they buy raw materials. We've shown that over the past few years, $380 million of goods and services were purchased by our member companies, and the GDP impact from our member companies per annum was $384 million.
Even though we're a net importer in New Zealand, the industry thus still has quite an economic contribution to make. For every person who is working in the industry in New Zealand, another nine New Zealanders are in active employment or partially in employment because of this. The economic multiplier is quite significant from an industry. I'd love to see a bigger domestic industry, but as I've indicated, there are some strong headwinds facing that goal at the moment.