Pfizer Continues Investment In Ireland
To support the development of new pharmaceuticals in Pfizer’s pipeline, the US company is investing US$130 million into Irish plants.
The Irish Times reports that the company will be investing $100m into Grange Castle, west Dublin biologics unit and $30m at Ringaskiddy in County Cork. Many of Pfizer’s leading medicines are already manufactured for global export from Irish sites.
The investments, which are supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland who is responsible for the attraction and development of foreign investment in Ireland, will enable the sites to expand their capacity and begin producing more advanced, complex therapies to deal with some of the most devastating and difficult to cure diseases.
Welcoming the announcement, Barry O’Leary, IDA CEO said: “Over the last 45 years, Pfizer has continued to innovate and transform its products to cater to the changing demands of its customers. The Ringaskiddy site was Pfizer’s first manufacturing facility in Ireland almost 45 years ago – it is fantastic to see the work at that site evolve into high-tech manufacturing. Since Pfizer first set up in Ireland in the 1970s, it has invested more than $7 billion in developing the skills, scale and capability necessary to manufacture some of its leading medicines for global export from Ireland.’’
Manufacturing capacity at Grange Castle will be expanded with a new production line doubling production of its rheumatoid arthritis drug Enbrel. The expanded facility, which is due to be operational in 2015, will also allow Grange Castle to manufacture new biologics.
Paul Duffy, vice-president of Pfizer said: “There is opportunity for Pfizer’s Irish sites to attract the development of new medicines, while also continuing to manufacture existing, important medicines.” Pfizer’s Irish operations are already significant and they consider the opportunity to further develop the existing “highest standards of manufacturing quality and excellence” as very beneficial to the global pharma company’s supply business.
Ireland’s services industrial professional and technical trade union SIPTU also welcomed the announcement: “This investment by Pfizer Ireland Ltd is particularly important as the pharmaceutical industry is currently undergoing a major transition away from big bulk manufactured products towards lower volume produced drugs”.
SIPTU Sector organiser Alan O’Leary noted that “significant job cuts have been experienced in the industry over recent years as a direct result of patent expiry and the associated drop in volumes.” He point out that the development of the Ringaskiddy centre “will further position the site to compete more effectively for new products”.
Ireland’s Minister for Jobs, Enterprise and Innovation, Richard Bruton said: “I am determined to ensure that we build on such success and provide the opportunities for further growth in this sector and create the jobs we so badly need. Pharmaceuticals and Life sciences generally is a hugely important sector for the Irish economy and the Government’s Action Plan for Jobs includes a series of measures to sustain and grow this sector.”