Abandoning drug plan sees pharma giant dip into red

The main Irish unit of Swiss-owned pharma giant Roche last year plunged into the red arising from the costs of abandoning plans to produce a potential new blockbuster drug at its Clare plant.

According to returns filed with the Companies Office, Roche Ireland Ltd recorded a pre-tax loss of €10.5m. This followed the company recording a pre-tax profit of €222,717 in 2011.

The Clarecastle firm recorded the loss after booking a €18.6m impairment when the company’s parent terminated all activities in May 2012 concerning the production of a new drug, Dalcetrapib.