Investing in Ireland From World Pharmaceutical Frontiers
The Republic of Ireland offers enormous potential to foreign investors for the pharmaceuticals, and particularly the biopharmaceuticals industry.

Despite uncertainty and turmoil in world markets, Ireland continues to fare relatively well economically compared to its European partners. The 1990s saw massive growth, with GDP increasing almost 10 per cent yearly, on average. This has slowed, but to a positive projected growth level of about 4 per cent over the next years, with inflation falling and unemployment stabilising at about 5 per cent (OECD). The foreign owned sector has been a major driver of the Irish economy over the last decade. The pharmaceuticals industry, in particular, continues to grow steadily and strongly, adding jobs at a rate of 5 per cent per annum.

IDA too, is placing more emphasis on research and innovation and the pharmaceuticals/biotechnology sector is one focus for the agency in its plans to continue the development of the economy through the incorporation of more advanced and knowledge-driven industries. The agency is also planning the growth of clusters of excellence, in which groups of technology companies, Irish and International will come together with corporate and academic research centres and others, to push through more integration and innovation in the sector as a whole. The aim is to make Ireland the world’s premier centre for chosen niche sectors such as life sciences.

The most exciting developments in the pharmaceuticals industry are underway in biopharmaceuticals. By the end of the decade it is predicted that 30 per cent of pharmaceutical products will be derived from biotechnology rather than through chemical synthesis, Ireland has taken initiatives, including massive funding for technology research, to ensure that the country becomes a centre of excellence for biotechnology. Wyeth’s new biopharmaceutical campus in Dublin is now nearing completion at a cost of $1.4m. the facility will comprise drug substance, drug product and drug development. Output will include Enbrel, for the treatment of rheumatoid arthritis, as well as treatments for pneumonia and spinal/facial injuries. This will be the largest biopharmaceutical facility in the world.

In May 2001 the US biotech company Genzyme announced plans for a €250m facility in Ireland’s southeast. It is already in production for Renagel tablets, used for kidney dialysis patients and further construction is underway for its finishing biopharmaceutical facility. In May 2002 came the news of UK based GeneMedix’s planned new state of the art mammarian cell manufacturing, R & D and technical support operation in the Midlands. Schering-Plough’s long-established interferon plant in Cork is an outstanding example of the application of biotechnology in pharmaceuticals. With these developments, an excellent pool of technical graduates, superb new research capabilities, a business friendly environment and the lowest corporate tax rate in Europe (12.5 per cent), Ireland is well on the way to being a major Biopharma centre.


 
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2008
Galway and Dublin. Wednesday, 3rd December, 2008: Growcorp Group, the Irish investment vehicle, will earn over Eur 7m following the acquisition this week of Irish theranoistic company Neutekbio by Danish biotechnology development company Merrion Pharmaceuticals has signed a multi-million euro deal with Novo Nordisk to develop oral diabetes products.

2008
DUBLIN, Ireland, Nov 5, 2008 an international specialty pharmaceutical company, today announced that it has been awarded the Frost & Sullivan 2008 Osteoporosis Technology Innovation of the Year Award

2008
DUBLIN, Ireland, Nov 5, 2008 an international specialty pharmaceutical company, today announced that it has been awarded the Frost & Sullivan 2008 Osteoporosis Technology Innovation of the Year Award

2008
Merrion Pharmaceuticals the TCD based Irish American company has confirmed that it has begun a joint feasibility study on oral drug delivery with Swiss based multinational Ferring Pharmaceuticals.

2007
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