Alexion eyes new manufacturing investment in Ireland
- Specialty drugmaker Alexion is considering locating its new manufacturing facilities in Ireland, the Irish Independent reports. The company has had a presence in the country since 2013, and invested about $750 million in Irish operations since then.
- A number of large drug companies have announced large investments in the country of late, including Eli Lilly, Merck, and Shire. Ireland's competitive corporate tax rate plus a qualified pool of employees has lured investment.
- Alexion is reportedly considering locations in and around Dublin for a buildout of production capacity for the company's pipeline of new drugs. Currently, Alexion operates a vial filling facility in Athlone and a biologics manufacturing site in Blandchardstown.
Earlier this month, Eli Lilly announced it would spend €35 million on a continuous API manufacturing site in Ireland for its late-stage pipeline. This was followed by new investments in Ireland by Shire and Merck, according to Fierce Pharma.
Now Alexion may be the latest firm to invest in the tax-attractive country. But the company is also looking at options in the U.S, U.K. and Singapore, according to comments from Julie O'Neill, executive vice president of global operations at Alexion. She said Singapore had a competitive profile for biologic drugs.
Alexion's main drug Soliris is considered one of the most expensive drugs in the world - checking in at $400,000 a year. It is used to treat the very rare blood disease paroxysmal nocturnal hemoglobinuria.
- Irish Independent Ireland in the running for Alexion's next manufacturing spend