Waterford Company EirGen Pharma Invests €3.3m in Major Expansion with Enterprise Ireland Support

Contracts in Japan, USA and South Africa Pave the Way for further Global Expansion

The Tánaiste and Minister for Enterprise, Trade and Employment Mary Coughlan T.D. today (5^th October 2009) announced that Waterford specialist pharmaceuticals company EirGen Pharma is to invest €3.3m in a major expansion programme with support from Enterprise Ireland. The investment will see the company expanding its research and development and manufacturing operations at the Waterford plant, creating 20 new high value jobs over the next two years. This will bring total employment to 40, and will position EirGen to service its growing number of international clients across leading world-wide pharmaceuticals companies.

EirGen is a specialist pharmaceutical company focusing on the development and supply of niche highly potent drugs typically used in cancer treatment. Set up in 2005, the company is focussed on providing dedicated specialist facilities for drug development and manufacture, servicing the global international pharmaceutical market. This new investment programme marks a major inflection point as EirGen now expands into the production and commercial supply phase following the granting of the company’s first pan-European licence. The first commercial launch of this early stage breast cancer treatment will take place in October this year and marks a major milestone for the company.

Making the announcement the Tánaiste said:

"This is a very significant development for this Waterford-based company that will drive their next phase of export-led growth. EirGen is a shining example of the innovative, high-technology life sciences companies that are developing in Ireland and that contribute so much – both at a regional level and to strengthening Ireland’s reputation as a centre of excellence for high value innovative services. Their strong focus on providing dedicated research and development facilities, their export focus and the high value technology jobs they provide all combine to give EirGen a strong reputation in the international marketplace. I congratulate them on their success and on this new investment programme.”

Speaking after the announcement Patsy Carney, Managing Director and co-founder of EirGen said:

"EirGen continues to invest in developing innovative products and services to maintain our competitive advantage with global Pharma companies and maximize our growth in international markets. Our state of the art, purpose built, high containment facility coupled with our highly experienced team has resulted in eight products under registration with the US Food & Drug Administration (FDA) and the European regulatory authorities and a total of 13 successful clinical studies. Our extensive experience in the industry and understanding of the businessneeds of the leading international Pharma companies have enabled us develop a proven service offering that has established a solid foundation for future growth. With this new investment we aim to build on the existing EirGen strengths and consolidate our international reputation as a leading specialist pharmaceuticals services provider. "

Outlining the company’s export growth strategy, Tom Brennan, Technical Director and co-founder of EirGen said:

“Our focus for future export growth is on building on our current market success in the US and Europe and on expanding in new growth markets in Japan, Latin America, Asia and South Africa. We are predicting significant sales growth in the next three years and we are delighted to have already secured agreements with a number of the leading pharmaceutical companies in these territories.”

Tom Hayes, Head of High Potential Start Ups at Enterprise Ireland added:

“Eirgen’s world-class R&D, combined with its state-of-the-art manufacturing practices and service delivery are key drivers of its success in markets throughout the world. Enterprise Ireland is delighted to continue supporting this company in its drive to build export market growth. EirGen is exactly the type of innovative export-oriented company operating successfully from a regional location that Enterprise Ireland is keen to support.”