Ninety jobs lost as Cork pharma firm Corden to close plant

TROUBLED Cork pharmaceutical company Corden is to stop its manufacturing operation this autumn with the loss of 90 jobs.

Management at the 20-acre Little Island plant have blamed a number of factors for the decision, including current market conditions for its active pharmaceutical ingredient products, the limited potential for the development and commercialisation of new products, the scale of the plant and the significant capital investment necessary for it.

“The decision to cease manufacturing does not in any way reflect on the staff at the company which ICIG acquired three years ago, but is a reflection of very difficult market conditions and the plant’s long-term commercial prospects,” a spokesman said.

Corden will retain research and development activity in Cork, but the cessation of manufacturing will mean that about 90 of the 97 jobs will be lost. A consultation process will commence next week with staff representatives and existing customers on the phasing of the closure.”

Corden PharmaChem was originally established as Irish Fher Laboratories, a subsidiary of Boehringer Ingelheim on the 20-acre site in Little Island in 1974. In 1992 the company was acquired by private investors and was renamed Irotec Laboratories. A new multipurpose manufacturing plant was designed in 1998 and was commissioned in 1999, doubling the total available capacity. In March 1999 it was acquired by Cambrex Corporation and was subsequently renamed Cambrex Cork Ltd.

International Chemical Investors Group purchased the business in October 2006, and the site was renamed as Corden PharmaChem in 2007.

It has manufactured a generic range of products, including drugs for blood pressure, anti-cancer treatments, pain killers, anti-psychotic drugs and blood thinners.

Corden admits in recent years it has incurred “substantial losses”.

Last year a 58-year-old married father of one, who worked as an operator at the plant, died following a chemical explosion. For more than a year the inquest into Liam Nodwell’s death has been delayed as the Health and Safety Authority continues to investigate the incident.

Meanwhile, Dawn Meats yesterday ceased its boning operation in Midleton with the loss of 130 jobs.

The slaughtering operation will continue at the plant, but the rest of the operation is being moved to existing plants in Charleville and Ballyhaunis.