McCarthy: Pharma is key to growth

The pharmaceutical sector is to play an increasinglyimportant role in Kerry Group’s continued growth in the coming years.

An easily overlooked area in its rapidly growing ingredients and flavours division, the supply of filler and coating ingredients for many of the world’s blockbuster drugs is a growing aspect of what the Tralee-based group is doing away from consumer foods. The pharma aspect makes up about 9% of Kerry’s ingredients arm, but that share is growing.

Speaking yesterday, on the back of a strong set of first-half financial results, Kerry chief executive Stan McCarthy said the growth in the pharma platform “warrants further investment”.