NEWS OF THE WEEK
IRELAND BECKONS BIOTECH BUSINESS PHARMACEUTICALS: Investments and
mergers have Irish eyes smiling
N A WELCOME boost, Ireland is seeing a wave of
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biotechnology investments and new companies. With pharmaceutical and chemical products making up more than 50% of Irish exports, such developments are vital to the country’s economy. Pfizer says it will invest $200 million to expand its Grange Castle biotech manufacturing facility near Clondalkin. The site is already Pfizer’s largest investment in Ireland and the only facility in Europe to manufacture biopharmaceuticals, pharmaceuticals, and vaccines at one location, the company says. The move, Pfizer adds, will strengthen its manufacturing and supply network. According to the industrial development agency IDA Ireland, Pfizer is Ireland’s largest pharmaceutical investor, having PFIZER
Pfizer is expanding biomanufacturing capacity at the Grange Castle site in Clondalkin, Ireland.
DOW
DOW FUNDS 2012 CHEMISTRY OLYMPIAD PHILANTHROPY: Firm will help ACS host
competition with $2.5 million pledge
P E T E R CU T TS P H OTO G RA P H Y
Liveris
Jackson
D
OW CHEMICAL has pledged $2.5 million to sup-
port next summer’s International Chemistry Olympiad (IChO), which will be held in the U.S. for only the second time in its 44-year history. The competition, which will be hosted by the American Chemical Society, takes place on July 21–30, 2012, at the University of Maryland, College Park. “As a global company with operations in more than 40 participating nations, Dow sees the International Chemistry Olympiad as a prime opportunity to help inspire the next generation of scientists,” says Andrew N. Liveris, Dow chairman and CEO. “With more than 95% of all manufactured products requiring some level of chemistry, highly educated and inspired scientists will help ensure a sustainable future for our company, our planet, and our communities.” WWW.CEN-ONLINE.ORG
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spent more than $7 billion there. But Pfizer has been shedding other Irish operations. In March it sold its Dún Laoghaire biologics formulation and fill facility to Amgen. Three months later its bulk biologics plant in Shanbally went to BioMarin Pharmaceutical. Meanwhile, mergers involving other firms are creating new, larger businesses with headquarters in Ireland. Palo Alto, Calif.-based Jazz Pharmaceuticals will acquire Ireland’s Azur Pharma to form a Dublin-based firm with expected annual sales of about $475 million. As an Irish company, Jazz will see its tax rate drop by at least five to 10 percentage points. “The tax benefits are nice,” Jazz CEO Bruce C. Cozadd told stock analysts in a Sept. 19 conference call, and “may provide us a competitive advantage with respect to other companies, but it was not the driver for this transaction.” The formerly U.S.-based Alkermes has opened headquarters in Ireland after merging with Elan Drug Technologies, once part of Ireland’s Elan. Alkermes also announced a deal to make a finished drug at its Athlone, Ireland, site for a top 10 drug firm. The deal is expected to generate up to $20 million in annual revenues by 2016. “Ireland once again is becoming a favored location for foreign investment,” said Matt Moran, director of industry group PharmaChemical Ireland, when announcing a report on science investment last week. Drug firms can benefit from a favorable tax regime, a highly skilled workforce, a strong compliance record, and easy access to European markets, he added.—ANN THAYER
“ACS and Dow are committed to developing the next generation of chemists and chemical engineers,” says ACS President Nancy B. Jackson. “Through the generosity of Dow, we have the opportunity to raise public appreciation for the essential role of chemistry in our lives as well as for the future innovators who will use chemistry to discover solutions to our world’s most pressing challenges.” More than 70 nations will each send a team of four high school students to compete in the event, which features scientific and cultural excursions as well as exams and laboratory work to test knowledge in both chemistry theory and practice. Qualifying student teams are typically chosen through a series of regional and national olympiads. The university campus, which will provide laboratory space and lodging for the competitors, is near ACS headquarters in Washington, D.C. ACS administers the U.S. National Chemistry Olympiad program. As host of IChO, ACS will be financially responsible for much of the program’s expenses in 2012. The society expects that those costs will amount to $2.7 million, according to Cecilia Hernandez, ACS staff manager of the olympiad program. Dow will be the sole sponsor of the 2012 IChO. The expenses not funded by Dow’s donation will be covered by fees paid by participating countries and observers.—SOPHIE ROVNER
SEPTEMBER 26, 2011
