Pharmaceutical giant to buy Irish pharma plant

Gilead Sciences Inc, a world leader in the development of treatments for a whole range of illnesses including HIV/AIDS, chronic hepatitis, cardiopulmonary conditions and respiratory diseases, is to buy the Nycomed Limited pharma plant in Carrigtwohill, Co Cork.

Gilead’s drug Atripla was the first one-pill-a-day treatment regimen for HIV infection.

The US firm is to buy the Danish-owned Cork plant for €34m.

Minister for Enterprise Trade and Employment Micheál Martin said the announcement was good news for Cork.

Gilead, with annual revenues of $3bn a year, operates in three Continents, employs almost 3,000 staff.

“They have a track record of investing in plants in which they take over so I am very confident that they will increase the Cork workforce,” said Minister Martin

The decision of the California-headquartered firm to acquire the Nycomed Plant, built four years ago by German pharmaceutical firm Altana for €70m, underpinned Cork’s reputation as the premier European location for top pharma and biopharama firms.

Gilead’s latest round of research, including work into discovering new medications for resistant hypertension, cystic fibrosis, HIV and hepatitis, was generating huge interest worldwide.

“The fact that the company has chosen Cork for its latest expansion is a great tribute to the quality of the workforce at Nycomed and also to the quality of available graduates,” the Minister added.