Following on from the latest IBEC report the Irish economy is now experiencing a period of rapid expansion and despite the uncertainty BREXIT has caused the foundations look solid as we enter into 2018.
Alongside many factors the Irish Life Science industry has and continues to play a vital role in this economic recovery. The industry in Ireland now comprises of Pharmaceutical, Biotechnology and Medical Device facilities engaged in activities from early stage R &D to manufacturing and delivery of finished products to market. 18 of the world’s top 20 Pharmaceutical companies have substantial operations in Ireland, 6 of the world’s top 10 selling Pharmaceutical products are exclusively produced here and exports account for over €45 billion annually making Ireland the largest net exporter of Pharmaceuticals in the world! Considering the first Pharmaceutical companies opened in Ireland in the 1960s, this growth is tremendous and Ireland is now a globally recognised centre of excellence in the Life Sciences industry. Offering jobs from start up to steady state, the sector employs over 50,000 people directly and there are phenomenal opportunities at present.
Fuelling this success is the level of investment in the industry. Looking back on 2017 there were significant investments and expansions which will lead to opportunities to work on major projects in 2018 and beyond.
Below are some of the major announcements:
Regeneron announces 300 additional jobs & $100 million investment in Limerick
Regeneron Pharmaceuticals announce 300 additional jobs are to be created at their Raheen facility. $100 million will also be invested to further expand its Limerick Industrial Operations and Product Supply (IOPS) bioprocessing campus.
Janssen Sciences Ireland announces expansion to increase production at Ringaskiddy facility
Janssen Sciences in Cork have announced a €300 million investment at their Ringaskiddy facility. The project will create jobs for up to 450 people during construction phase and will provide employment to 200 people once complete.
MSD Ireland announce 330 New Jobs and €280 Million investment in Carlow & Cork
200 new jobs will be created in Cork and 120 in Carlow as a result of increased global demand for MSD’s medicines and vaccines produced in Ireland.
BioMarin expands Facility to Manufacture Medicine for Rare Genetic Diseases in Shanbally, Co. Cork
The overall project will allow the company to maximise the flexibility of the site with the expansion of the operational manufacturing capacity. The site will also see the installation of a Waste Water Treatment Plant later this year, while three new lab expansions are to be completed by Q3 2018.
Eli Lilly to proceed with a €200m expansion at its Kinsale manufacturing site in Co Cork
The project will create hundreds of new jobs in addition to the 500 people already employed in Kinsale.
Bausch + Lomb’s €85 million extension at Waterford facility officially opens
Bausch + Lomb officially opened an €85 million extension at the company’s Waterford facility to help meet the consumer demand of its contact lens portfolio.