Servier ¤69 Million Expansion Investment for Arklow
112 new jobs to be created
Minister for Enterprise, Trade and Employment Micheál Martin TD today (Friday 27th October 2006) announced that Servier, of Paris, France is to invest ¤69 million, with the support of IDA Ireland, to expand its operation in Arklow, Co. Wicklow.
Servier is a research based company that concentrates on the development of cardiovascular, cancer, diabetes and central nervous system drugs. Established in Arklow in 1985, Servier employs 206 people in the manufacture of pharmaceuticals for supply to international markets. Two of its existing drugs manufactured in Arklow, the diabetes drug Diamacron and the hypertension drug Coversyl, rank in the top five in Europe in their class.
Servier is also to invest ¤69 million to expand its Arklow facility to enable the company to significantly increase its production of existing products for hypertension, angina and type two diabetes and introduce three new pharmaceutical products. 112 new jobs will be created over five years, with both facilities offering positions in production, quality control and support areas such as maintenance, logistics, IT and administration.
Minister Martin said: “Servier’s manufacturing facility in Arklow is thriving and this expansion is a strong indicator of the company’s success here to date. The expansion of its facility is necessary to cater for the increasing demand for its existing products and the introduction of new products to be manufactured here. Today’s announcement will make Servier’s Irish operations strategically important within the company and is very welcome news for the employees of Servier in Arklow”.
Servier said “This investment is a major part of Servier’s strategy for the future growth of its worldwide business. Our decision to choose Ireland was made following careful appraisal of all our options for this investment. We are very pleased with the standard and performance of our facility here and the encouragement shown to us by the Irish Government and its unwavering support of innovation. We know that we can find the necessary life sciences capabilities and skills we need in Ireland. The new pharmaceutical facility will be pivotal in Servier’s future global operations and will be further integrated with the company’s global activities as a result.”
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Note for Editor
Servier is the 14th largest pharmaceutical company in Europe and 34th in the world. Established in 1972, the group is controlled by the Servier Foundation and is headquartered in Paris. Its founder Dr. J. Servier is respected in the industry for his commitment to research and to his staff. The Group currently sells in 140 countries across 5 continents using its own sales force in each country. Turnover for the year ending September 2005 was ¤2.8 billion, up 14% on 2004. Current employment is 17,500, of which 2,500 are in R&D, and it reinvests 25% of turnover per annum in R&D. At present the group has 27 drugs in development, 14 in preclinical and 13 in clinical development, which includes 6 in Phase III. The groups clinical support unit in Gidy (France) is the largest in Europe. All products sold by the group are developed in-house, none are licensed in.
For further information, please contact –Servier: Lucy Vincent 0033 1 5572 7988
IDA Ireland: Ruth Croke, Press & PR Manager. Tel: 087 4195051
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Last modified: 27/10/2006
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