Roche Ireland revenue increases to €87.3m

The main Irish unit of Swiss-owned pharma giant Roche last year returned to profit after revenues increased by 29.5% to €87.3m.

According to returns just filed with the Companies Office, Roche Ireland Ltd recorded a pre-tax profit of €222,717 in 2011 after sustaining a €12.3m pre-tax loss in 2010.

The plant at Clarecastle, Co Clare returned to profit after revenues increased by €19.9m from €67.4m to €87.3m in the 12 months to the end of December.

However, the filings disclose that, in a post-balance sheet event, Roche Ireland booked a €14.4m asset impairment charge relating to the Roche Group terminating all activities in May 2012 concerning the production of a new drug, Dalcetrapib.

Roche Ireland had acquired the assets in anticipation of the commencement of the production of the potential new blockbuster drug at its Clarecastle plant. Preparatory work was well advanced and planning permission was already secured by Roche for the facility’s expansion to cater for the production of the new “good cholesterol” drug to combat heart disease.

However, arising from results of a late-stage trial, Roche decided to abandon the trials “due to a lack of clinically meaningful efficacy”.

A review of the Roche operations at Clarecastle followed the decision to abandon the Dalcetrapib project, with the Roche Group ending uncertainty over the plant’s future when it re-affirmed its commitment in June to its Clare plant, where 234 are employed.

At the plant, Roche produces Xenical for the treatment of obesity; CellCept, used in the prevention of organ rejection in transplant recipients; and the HIV drug Invirase.

The plant also produces an intermediate product for cancer drug, Xeloda.

A Roche spokesman at Clarecastle said yesterday: “There are no definite plans for new products at this time.”

Emoluments for directors last year increased from €239,126 to €345,456.