Bioniche insists Inverin closure is ‘not an option’

CANADIAN life sciences company Bioniche has ruled out job losses at its facility in Galway, despite putting it up for sale last week, and is poised to make a fresh investment in Ireland next year, it emerged over the weekend.

The company’s chief executive said that Bioniche was exiting its Irish investment to free up cash for its core businesses at home, but it would not close its Inverin plant which manufactures sterile injectable products and employs 120 people, if a buyer could not be found.

Graeme McRae told the Irish Examiner that the Inverin plant had gone through ‘a bad year’ but that recent investments in the facility meant it was a ‘wonderful buying opportunity’ for the right partner.