Pharma giant’s profits double to €18 million

Pre-tax profits at the main Irish arm of pharma giant Novartis more than doubled to €18.25m last year.

According to accounts filed by the Cork-based Novartis Ringaskiddy Ltd (NRL), the firm recorded the sharp increase in pre-tax profits after revenues increased by 12%, from €118.3m to €132.6m, in the 12 months to the end of December last.

The figures show that the numbers employed at the plant at Ringaskiddy in Cork continued to increase last year, rising from 462 to 527.