Biotechnology firm sees pre-tax profit rise 24%

Pre-tax profits at the Irish arm of global biotechnology company Genzyme last year increased by 24% to €43m as revenues topped €1.18bn for the first time.

Company turnover has increased more than fivefold since 2007 when revenues of €219.3m were generated.

Accounts filed with the Companies Office show that Genzyme Ireland Ltd enjoyed the increase in profits after revenues rose 21%, from €980.4m to €1.18bn, in the 12 months to the end of December last.