"Ireland's biotechnology industry is primed for growth" - Minister Ahern

Biotechnology is now fulfilling its promise to become one of the key sectors in the creation of a high-tech research and industrial base in Ireland and is primed for growth, according to Michael Ahern T.D., Minister for Trade and Commerce, when he visited the Ireland Pavilion at the BIO 2005 Convention in the Pennsylvania Convention Center in Philadelphia, USA this week.

Minister Ahern said "The Irish Government is committed to a pro-business, pro-science environment to transform Irish industry. It is making an unprecedented level of investment in science and technology to create a vibrant and well-supported biotech research community, giving a substantial resource for technology solutions and the basis for a stream of technology-based start-ups".

Today, Ireland has over 170 companies employing 35,000 people in the in the pharmaceutical/ chemical, biopharmaceuticals, medical devices and diagnostics sectors and is the European home to such household names as Johnson & Johnson, Pfizer, Wyeth, Schering Plough, Bristol Meyers Squibb and Genzyme. "Add to this mix a large-scale government investment in research and an increase in entrepreneurial and venture capital activity and we can see why Ireland is emerging as a truly world-class life sciences cluster", Minister Ahern said.

"Ireland is now one of the world's largest exporters of pharmaceuticals with annual exports of intermediates and finished pharmaceuticals worth over €34 billion and with six out of ten of the world's top selling drugs produced in Ireland" the Minister added.

At a meeting with Michael Kamarck, Senior Vice President, Wyeth BioPharma, Minister Ahern welcomed on behalf of the Irish Government the newly announced initiative between Wyeth Pharmaceuticals and Dublin City University. This will involve academic researchers working in collaboration with a world-class pharmaceutical company to further increase knowledge of mammalian cell expression. "This is a further example of the strong biotech links between Ireland and the US and I especially commend the role of Biolink USA-Ireland Chapter in Philadelphia", Minister Ahern said.

Over forty companies in Ireland, both multinationals and Irish-owned enterprises, are engaged in activities that are primarily based on biotechnological research and/or processes. These include biopharmaceutical discovery and manufacturing, diagnostics, pharmaceutical services, bioenvironmental technology and agrifood technology. A supporting infrastructure of life sciences venture capital funds, venture catalysts, clinical research organisations and service companies is emerging in parallel.

Irish companies taking part in Bio 2005 include Celtic Catalysts, EiRx Therapeutics, Opsona and Pharmaplaz. The Ireland pavilion hosts the Irish Biotechnology Industries Association representing 40 Irish companies, Enterprise Ireland, IDA Ireland and Science Foundation Ireland.