Waterford arm of biopharma firm Sanofi sees pre-tax profits rise 82%

Sanofi Waterford is a primary distribution centre for many of the firm's major products and services, some of which are focused on rare inherited disorders, kidney disease, orthopaedics and cancer

Sanofi-based subsidiary Genzyme Ireland Ltd recorded a surge in profits as revenues increased by 14% from €1.57bn to €1.78bn. Picture: Denis Minihane

Pre-tax profits at the main Irish arm of biopharma giant, Sanofi, last year increased by 82% to €308.29m.

New accounts show that Sanofi-based subsidiary Genzyme Ireland Ltd recorded a surge in profits as revenues increased by 14% from €1.57bn to €1.78bn. Sanofi purchased Genzyme’s global business in 2011 and since then has invested over €700m in the Waterford facility.