Alkermes plc Launches Corporate Operations in Ireland
- Company Establishes Headquarters in Dublin -
- Company Announces Manufacturing Deal Expected to Generate Escalating Revenues Reaching $15 Million to $20 Million Annually -
DUBLIN, Sep 19, 2011 (BUSINESS WIRE) -- Alkermes plc (NASDAQ: ALKS) today announced the establishment of its corporate operations in Ireland, with new headquarters located in Dublin. The company, including its headquarters and operations in Athlone, County Westmeath, has more than 450 employees based in Ireland and more than 1,200 employees worldwide.
Alkermes plc was created following the merger of Alkermes, Inc. with Elan Drug Technologies (EDT), the profitable, world-class drug formulation and manufacturing business unit that was formerly a part of Elan Corporation, plc.
Marking its first day of operations in Ireland, Alkermes has announced a multiyear, multimillion dollar manufacturing agreement with one of the world's top ten pharmaceutical companies. Under the terms of the agreement, Alkermes will manufacture the company's finished pharmaceutical product, which will be produced at Alkermes' Athlone, Ireland facility. Alkermes expects this agreement to generate $15 million to $20 million in annual manufacturing revenues by 2016. The Athlone facility is one of three major manufacturing plants owned by Alkermes plc at which the company produces proprietary, partnered and contract-manufactured drug products.
Welcoming today's announcement, Mr. John Perry TD, Minister of State for Small Business said, "Alkermes plc's decision to establish its headquarters in Ireland is further demonstration of this country's continued ability to attract companies, like Alkermes, in growth industries, to set up operations here. Today's announcement showcases that Ireland is very much open for business and is an excellent location to host operations of multinational companies. The additional announcement of a new contract for the Athlone facility is an indication of its track record for successful innovation and high-quality manufacturing."
"We are a strong, global company with a diversified product portfolio, and we look forward to accelerating our growth to create value in our business and for the patients we serve," said Richard Pops, Chief Executive Officer of Alkermes. "Alkermes is excited to have our operations based in Ireland, which we view as a gateway to the European Union and global pharmaceutical market."
MORE THAN 280 jobs were announced by three international companies in Tralee, Co Kerry, yesterday as part of an initiative to locate test centres in biomedicine, drug testing and pharmaceutical research in a new campus.
The planned jobs are in research and development (RD) and are to come on stream over the next 15 months. They will be based temporarily in an existing building in the town and recruitment will begin in May.
Over the next four years up to 50 small-to-medium-sized businesses will form part of the €4.7 billion Global Pharmaceutical Centre of Excellence ( GPCE) project, employing up to 4,500, presentations at the Shannon Development Headquarters in Tralee and the county council chambers heard.
The 282 jobs will be created by the International Prevention Research Institute, Global Research Services (GRS) and Optivia Biotechnology.
Prof Peter Boyle, head of the institute, a non-profit organisation advising several governments on public health, said the initiative by the GPCE was necessary for the development of medicine.
“This could be a very important centre for the whole of Europe in five years,” Prof Boyle said.Dr Peter Milner of Optivia Biotechnology, based in Silicon Valley in the US, said he envisaged 500 studies with an investment of $5 million (€3.6 million) in the first year alone. His company’s focus is in pre-clinical trials.
Optivia would need up to 30,000sq ft of laboratory space.
The new jobs will initially be at the Centrepoint building in Tralee. But a planning application is to be submitted in May for a 32-acre site alongside the Institute of Technology Tralee, according to Rory Doyle, chief executive of the proposed centre, and a senior executive with Pharmadel, the Cork-based generic drug firm.
The plans for a four-storey building with floor space of 27½ acres overlooking Tralee Bay at the Kerry Technology Park were unveiled. It will comprise laboratories and an auditorium larger than that of the new convention centre in Dublin, architects said.
Significant State investment is required to ensure the project proceeds, its promoters said. Former minister for finance Alan Dukes, a board member of GPCE, said yesterday was the first “concrete manifestation” of the project, which was receiving great help from the IDA and Shannon Development.
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