Gilead Sciences to establish European Financial Shared Services Centre in Cork with the creation of over 30 jobs

Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan TD today (7^th July 2009) announced that Gilead Sciences is to establish a European Financial Shared Services Centre (EFSSC) in Cork with the creation of over 30 new jobs. IDA Ireland worked closely with Gilead Sciences in attracting this investment to Ireland and in assisting the company to select a suitable location for the centre.

Welcoming the announcement the Tánaiste said “Gilead Sciences is one of the leading biotechnology companies in the world and its decision to establish a European Financial Shared Services Centre in Cork is welcome news for the whole South West region. Gilead established its operation in Cork in 2007 following the acquisition of the Nycomed Limited manufacturing facility. This and other new capital investments in the Cork operations have strengthened the role of the Irish operations to the parent company. Ireland is operating in a highly competitive global environment for leading biopharmaceutical investments of this kind and today’s announcement is an endorsement of Ireland’s ability to provide the necessary skills and pro-business policies to assist leading companies to broaden the range of services in support of their European and EMEA business models”.

Gilead Sciences’ new European Financial Shared Services Centre will process financial activities for the company's European operations in areas such as Purchase to Pay, Intercompany, General Ledger, Fixed Assets, and Order to Cash activities. Gilead currently employs 125 people at its operation in Carrigtwohill, Co Cork, and this further investment will see the employment figure rise to 155 people.

Commenting on the announcement Julie O’Neill, Gilead Sciences General Manager in Ireland, said “The decision to choose to locate our European Financial Shared Services Centre in Cork was based on our track record of success here, the experience in the region, the availability of skills and the presence of several global international companies operating International Shared Services Centres here”.

The European Financial Shared Services Centre (EFSSC) in Cork will service Gilead’s existing markets in the UK, Ireland, France, Germany, Austria, Switzerland, Spain, Portugal, Italy, Greece, Turkey, Benelux and The Nordics.

Since 1987, Gilead Sciences has worked to discover, develop and commercialize medications to advance the care of patients suffering from life-threatening diseases in areas of unmet medical need.

Headquartered in Foster City, California, the company has expanded rapidly over the past two decades, with annual revenues now exceeding $5 billion, operations spanning four continents and a staff of approximately 4,000 employees.

Gilead’s primary areas of focus include HIV/AIDS, liver disease and serious cardiovascular and respiratory conditions.