NEWS


Bristol Myers Squibb to invest €368m at its Cruiserath Campus


Bristol Myers Squibb has announced a €368 million investment at its Dublin 15 Cruiserath Campus towards the build and design of a Sterile Drug Product (SDP) facility, which will support the manufacturing and supply of existing medicines as well as serve as a launch excellence facility for pipeline assets.


This will be the company’s first European SDP


facility for biologics manufacturing and is currently in the design phase. Construction is expected to commence this month, now that planning approval has been received, for completion in 2026. Bristol Myers Squibb said it anticipates creating 350 jobs in Ireland as part of this investment, bringing the total number of Bristol Myers Squibb direct employees at the campus to more than 1,000. Padraig Keane, vice president, Cruiserath Biologics,


said: “This SDP facility strengthens not only our capabilities on campus, but allows us to be agile and responsive to patient needs across the globe. “This investment will expand our capacity for aseptic drug products, reinforce stable production for global supply, and accelerate the development and commercialisation of innovative biologic therapies alongside other pipeline medicines.


“This year we celebrate 60 years of BMS in


Ireland, across our three sites in Ireland we continue to play a critical role in the global production, development, and supply network.” Michael Lohan, chief executive of the Industrial


Trade surplus doubles in January amid decline in imports


A sharp year-on-year increase in the value of pharmaceutical and medical as well as organic chemical exports contributed to a 22% overall jump in the value of the Republic of Ireland’s exports in January compared with the same month last year, new figures from the Central Statistics Office (CSO) have indicated. After a 6% decline in export values last year amid a slump in the


pharma sector, the total value of goods exported in the first month of 2024 was €18.1 billion, up €2.5bn from January 2023 or 16%, according to preliminary data. Medical and pharmaceutical products exports saw the biggest increase over the 12-month period, climbing by €2.9bn or 48% to almost €9bn.


The value of goods imported into the Republic, meanwhile, slumped


by €1.9bn or 17% year-on-year to €9.4bn. This resulted in a trade surplus of around €8.8bn in January, more than double the figure recorded in December 2023.


Development Agency, said: “Bristol Myer Squibb’s decision to invest €368m at its Cruiserath campus along with 350 new jobs is most welcome news and underscores the strategic importance of Ireland in its global operations.”


Ibec highlights government-imposed labour costs on businesses


The Irish Business and Employers Confederation (Ibec) has highlighted the Government’s report on the cumulative impact of government-imposed labour costs on businesses. The report aligns with Ibec’s


analysis and advocacy, urging the Government to acknowledge the cumulative effects of labour market policy decisions that have significantly increased costs for vulnerable companies and sectors. Danny McCoy, Ibec’s chief


executive, said: “The report’s effectiveness hinges on how support is provided to sectors facing unsustainable cost hikes due to government policies. Some sectors, as noted in the report, are projected to experience nearly a 20% rise in labour costs over the next two years, even before factoring in subsequent pay pressures or standard wage growth.


“The PRSI system is the most administratively straightforward and targeted


way to address these issues. The Government must introduce a PRSI rebate for the most exposed companies in line with their exposure to rising costs, along with increasing the top-rate employer PRSI threshold above the minimum wage and commit to a new ‘Competitiveness Charter’ which sets an annual ceiling on the total amount of additional labour market costs which will be imposed on business in any single year.”


4 March 2024 Irish Manufacturing www.irish-manufacturing.com


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