Irish pharma back with a bang in July
July, after a lengthy period in which the prevailing wisdom was
that the sector had plateaued.
Production of pharmaceuticals and drug raw materials in Ireland was 44.7 per cent higher in July than in the same month of 2003 while the combined turnover of pharmaceutical companies for the month rose by nearly 42 per cent year-on-year, according to figures released by Ireland's Central Statistics Office.
Currently 13 of the top 15 companies in the world have substantial operations in Ireland. In total there are 83 facilities employing more than 17,000 people in the country, according to IDA Ireland. Ireland is one of the world's largest exporters of Pharmaceuticals with €34 billion of intermediates and finished pharmaceuticals exported in 2002.
However, industry group PharmaChemical Ireland said earlier this year that the country's position as a hot spot for inwards investment in pharmaceutical manufacturing is under threat from companies in the Far East and Puerto Rico. At the heart of the problem are spiralling operational costs, waste management problems and a decline in the study of science in Irish schools and universities.
Since then there have been some encouraging announcements of new investments in Ireland. Pfizer has just unveiled a plan to spend €240 million to expand its Dun Laoghaire plant in Dublin, while Johnson & Johnson subsidiary Centocor is planning a €650 million facility investment in Ringaskiddy, County Cork..
And earlier this month, Servier (Ireland) Industries announced a significant expansion of its pharmaceutical operation in Arklow, County Wicklow, in a €52 million investment. The investment will add over 100 new jobs over the next five years to the 90 people already employed at the plant and is expected to treble the production capacity at the facility.
