Pfizer to shed up to 150 jobs as it sells plant

UP to 150 jobs are to be shed after the world’s largest pharmaceutical company announced it is to sell off one of its plants.

Due to a rationalisation, Pfizer has sold its Loughbeg API plant in Cork to Portuguese company Hovione.

Pfizer announced in February 2007 that a rationalisation meant it would cease manufacturing at two of its Cork plants.

It had been unable to find a buyer for the other plant in Little Island and as a result is negotiating redundancy packages with 180 workers there. That plant will cease production at the end of next year.

There are 232 people employed at the Loughbeg plant, but Hovione announced yesterday that it will only need a workforce of 70-80.

“We have worked determinedly over the past 20 months to sell the Loughbeg API plant in order that our colleagues would be able to continue working there,” said Paul Duffy, Pfizer’s vice-president of Irish manufacturing.

“I know the news is mixed. The fact that Loughbeg will continue in operation with 70 to 80 positions is welcome and secures a future for the site and offers the best opportunity for growth in the future.

“However, the news of redundancies will be a disappointment to impacted colleagues and to their families,” he said.

He thanked the Government, IDA and local government officials for their help in promoting the plant and identifying prospective buyers.

Meanwhile, Pfizer is ploughing ahead with a €190 million investment in a new biologics plant at Shanbally, near Ringaskiddy. About 100 jobs will be created after the plant is fully commissioned at the end of next year.

“We have been manufacturing in China for over 25 years. We know very well what China can do for the pharma industry, but we also know what it can’t do and it is for those reasons that we are now in Cork,” said Hovione chief executive Guy Villax.

Cork Chamber of Commerce spokesman Frank O’Mahony said it was positive news that a buyer had been found for the Loughbeg plant.

“It is very regrettable that over 150 jobs will be lost. But we are hopeful that with this investment Hovione can grow and create additional high quality jobs with valuable spin-off for the local economy,” Mr O’Mahony said. lWyeth Ireland announced that a new vaccine is to be manufactured for export in its €1.8 billion biotechnology facility in Grange Castle, Clondalkin, Co Dublin, leading to the creation of 200 jobs. The vaccine was developed to protect children against serious diseases, including pneumococcal meningitis and septicaemia (blood poisoning).