Dublin, 15th September 2014: Representatives from some of the most influential investment firms in the U.S. have arrived in Dublin today, 15th September, as part of a meeting hosted by Alkermes plc. The U.S. investment firms, who collectively manage over $2.4 trillion, with $250 billion in healthcare assets alone will also be addressed by An Taoiseach, Enda Kenny TD at an event in the Guinness Storehouse in Dublin.
The group of investors are visiting Ireland to meet with company management and obtain an update on Alkermes’ growing pipeline of drug candidates and business operations. Specifically, the company will provide an update on three new drug candidates that Alkermes will pursue in clinical trials for the treatment of multiple sclerosis, pain and cancer. These three new drug candidates represent a doubling of the number of clinical drug candidates in Alkermes pipeline, from three to six innovative drugs from the company’s R&D operations.
The investor visit to Ireland is one of a select number of stops on the itinerary for this group of U.S. investors to visit on a European tour. The meeting, hosted by Alkermes, allows the company to showcase its headquarters in Dublin and provides an opportunity for the Irish Government to reinforce Ireland’s strong credentials and track record in attracting investment to the country.
An Taoiseach Enda Kenny TD said: "I am delighted to welcome to Ireland our visitors from US investment firms and to thank our host, Alkermes, for organising this event. Ireland has a dynamic life sciences sector which employs 50,000 people and accounts for exports of over €50 billion per annum. It is a testament to the business environment in Ireland that companies like Alkermes have chosen to have their headquarters here and, indeed, nine of the top 10 pharmaceutical companies in the world have a base here, as do 20 of the top 30 medical devices companies. For the Government's part, we are determined to continually enhance Ireland's attractiveness as a location for investment and jobs."
Alkermes is one of the many leading global life science companies to locate in Ireland in recent years. The decision to locate in Ireland was due to a number of factors including the country’s track record in creating a strong environment for life science and pharmaceutical companies to do business.
Speaking at the event, Alkermes Chief Executive Officer, Richard Pops said: “We are very pleased to be in a position to host such an influential group of US investors and providing them with a business update including our new product candidates for important diseases that will fuel our future growth. We expect that our growth will centre on our operation in Ireland, which is an ideal location for innovative biopharmaceutical businesses. An Taoiseach and his Government has played an important role in supporting international business in Ireland through its pro-enterprise industrial policies. We look forward to building a substantial biopharmaceutical business, based in Ireland, and bringing innovative medicines to the patients we serve.”
The pharmaceuticals and biotechnology industries represent very important sectors for Ireland. In particular, Ireland aims to retain and attract those companies that are on the cutting-edge of innovation, so that Ireland can participate across the entire value chain of the drug industry, including a vibrant scientific and research workforce focused on important pharmaceutical products that have long life cycles.
ENDS
For further information contact:
Eilish Joyce, FTI Consulting
087 791 4641
About Alkermes plc
Alkermes plc is a fully integrated, global biopharmaceutical company that applies its scientific expertise and proprietary technologies to develop innovative medicines that improve patient outcomes. The company has a diversified portfolio of more than 20 commercial drug products and a substantial clinical pipeline of product candidates that address central nervous system (CNS) disorders such as addiction, schizophrenia and depression. Headquartered in Dublin, Ireland, Alkermes plc has an R&D center in Waltham, Massachusetts; a research and manufacturing facility in Athlone, Ireland; and manufacturing facilities in Gainesville, Georgia and Wilmington, Ohio. For more information, please visit Alkermes’ website at www.alkermes.com.