Pharma firm expects 2014 profit return

Shannon-based pharmaceutical firm UCB Manufacturing Ireland Ltd is expected to return to profit in 2014 after recording pre-tax losses of €63.99m last year.

Last year, the success of the firm’s Neupro Parkinson’s drug in the US and milestone payments resulted in revenues at the pharma firm increasing sharply by 86% from €90.2m to €167.7m.

However, operating expenses more than doubling from €70.9m to €166.8m resulted in the firm recording a pre-tax loss of €63.99m. A tax credit of €39.1m resulted in a post tax loss of €24.8m.