Revenues and profits fall at Waterford pharma

Pre-tax profits at a firm that includes one of the largest employers in the south-east, the Sanofi Genzyme Waterford plant, fell 65% to €95.8m last year. The pharmaceutical firm employs 684 people at the plant, which was formerly called Genzyme.

New accounts from Genzyme Ireland Ltd show that the firm sustained the drop in pre-tax profits after its dividend income fell from €197m to €43m. Revenues that come into the firm from across the world declined 14% from €981.6m to €839.5m.