At the start of 2016 Shire bought Baxalta rare disease treatments for $32 billion. Off the back of the acquisition, Shire are building a new biologics plant in Ireland which will create 400 new jobs once the build is completed in 2019.
I watched an interesting news report today stating that there are 780 Biotech companies in the East of England employing 18,00 people and as more people pile in, the less space becomes available forcing companies to move or build bigger offices and sites.
It got me thinking. Whilst some companies are able to find space, others aren’t, which will result in companies having to move to other parts of the world such as the Middle East or Northern America to allow natural growth and more space for labs.
At the rate start-ups and established companies are growing, it would great to see companies, like Shire, looking closer to home and consider setting up in Ireland to keep jobs in the EU.
are disease drug specialist Shire ($SHPG) has been on a buying streak lately, culminating with its $32 billion deal for Baxalta ($BXLT). Now the company says it is time to build something. The Dublin-based company intends to invest $400 million to erect a biologics plant in Ireland, its first manufacturing facility in its adopted home country. Shire's only other manufacturing is in the U.S. Construction is expected to begin this summer in Piercetown, about 20 kilometers from Dublin, according to an announcement from the Ireland Development Agency. The company says it will add 400 jobs when the project is completed in 2019.