Amgen to purchase Pfizer's manufacturing facility in Dun Laoghaire
Approximately 280 roles preserved as company intends to retain employees and expand the capability of the site over time
Dublin, Ireland (March 11, 2011) - Amgen Inc. and Pfizer Inc. today announced that they have signed an agreement for the sale of Pfizer's manufacturing facility located at Dun Laoghaire, County Dublin to Amgen. The transaction is expected to close in the second quarter of this year.
The Pfizer facility is a 37,000 square-meter aseptic operations facility with freeze dry product and liquid vial filling operations. The transaction anticipates that the majority of the employees at the site (approximately 240) will transfer their employment to Amgen and Pfizer will consult with transferring colleagues in relation to the implications of the transfer for them. A smaller group (about 40) will remain employed by Pfizer as part of the terms of the agreement.
"As we expand internationally, the Dublin site will help us deliver a growing supply of Amgen medicines for patients worldwide," said Madhu Balachandran, senior vice president, Amgen Manufacturing. "We are impressed with the technical expertise and commitment to excellence demonstrated by the employees who work at the Dun Laoghaire site and look forward to welcoming them to Amgen's global manufacturing team."
Balachandran continued, "We are grateful to the Irish government and IDA Ireland for their support in helping us secure this world-class facility and look forward to a strong, productive relationship in the years ahead."
Welcoming the announcement, Dr Paul Duffy, Vice President Primary Care, Pfizer Global Supply said, "This is a good day for colleagues and for Ireland Inc. as it proves we remain an attractive location for high calibre investment. We worked determinedly with IDA Ireland to sell the Dublin facility in order that employment could be retained and I wish to thank colleagues for their continued commitment throughout the process. We continue to actively engage in exploring opportunities to divest our Loughbeg and Shanbally plants in Cork and remain focused on delivering successful outcomes."
Under terms of the agreement, Amgen will manufacture Pfizer's products at the facility for an interim period and Pfizer will lease a portion of the facility from Amgen for an interim period. Amgen intends to develop the capability to formulate and fill its biological products at the site and expand the manufacturing capabilities there over time.
Commenting on the announcement by Amgen to take over the Pfizer facility in Dun Laoghaire, Barry O'Leary, CEO of IDA Ireland said, "This investment by Amgen, the largest biotechnology company in the world, gives a substantial boost to Ireland's Life Sciences sector. Today's announcement represents a significant win for Ireland due to Amgen's leading position in the industry and the strategic nature of the proposed development for the company."
"The retention of the 240 jobs by Amgen and the 40 staff who will remain employed by Pfizer, in Dun Laoghaire, is also very welcome news for staff and management here and is testament to the hard work and dedication with which they continued to operate this facility during a difficult and uncertain period. I wish all parties involved every success with this acquisition and to offer the full support of IDA Ireland to Amgen as it develops its operations here in Ireland."
Amgen has conducted commercial operations in Ireland since 2000 and employs about 25 staff members at its offices in North County Dublin.
Amgen discovers, develops, manufactures, and delivers innovative human therapeutics. A biotechnology pioneer since 1980, Amgen was one of the first companies to realize the new science's promise by bringing safe, effective medicines from lab to manufacturing plant to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, bone disease, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives. To learn more about our pioneering science and vital medicines, visit www.amgen.com.
Pfizer is the world's leading biopharmaceutical company with a diversified global health care portfolio which includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world's best-known consumer products. Pfizer is one of Ireland's leading employers and the largest pharmaceutical sector investor and employer. One of the first pharmaceutical companies to locate in Ireland (1969), Pfizer has a rich heritage of innovation and expansion over a forty year period. The business has almost 4,500 colleagues across 11 locations based in Cork, Dublin, Kildare and Limerick. Pfizer's business interests in Ireland are diverse. There is a manufacturing presence in Active Pharmaceutical Ingredients, Solid Dose Pharmaceuticals, Sterile Injectibles, Nutritionals, Vaccines and Biopharmaceuticals; commercial Human Prescription, Animal Health and Consumer Health products businesses; Global Financial Services centre and a global Treasury operation. The Irish operations manufacture some of Pfizer's best selling and newest medicines. Ireland is a leading manufacturing base for Pfizer globally, exporting to global markets. Total capital investment by the company in Ireland exceeds $7billion. www.pfizer.ie
This news release contains forward-looking statements that involve significant risks and uncertainties, including those discussed below and others that can be found in Amgen's Form 10-K for the year ended Dec. 31, 2010, and in its periodic reports on Form 10-Q and Form 8-K. Amgen is providing this information as of the date of this news release and does not undertake any obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.
No forward-looking statement can be guaranteed and actual results may differ materially from those Amgen projects. Amgen's results may be affected by Amgen's ability to successfully market both new and existing products domestically and internationally, clinical and regulatory developments (domestic or foreign) involving current and future products, sales growth of recently launched products, competition from other products (domestic or foreign), difficulties or delays in manufacturing its products. In addition, sales of Amgen products are affected by reimbursement policies imposed by third-party payors, including governments, private insurance plans and managed care providers and may be affected by regulatory, clinical and guideline developments and domestic and international trends toward managed care and healthcare cost containment as well as U.S. legislation affecting pharmaceutical pricing and reimbursement. Government and others' regulations and reimbursement policies may affect the development, usage and pricing of Amgen products. Furthermore, Amgen's research, testing, pricing, marketing and other operations are subject to extensive regulation by domestic and foreign government regulatory authorities. Amgen or others could identify safety, side effects or manufacturing problems with Amgen products after they are on the market. Amgen's business may be impacted by government investigations, litigation and products liability claims. Further, while Amgen routinely obtains patents for its products and technology, the protection offered by its patents and patent applications may be challenged, invalidated or circumvented by its competitors. Amgen depends on third parties for a significant portion of its manufacturing capacity for the supply of certain of its current and future products and limits on supply may constrain sales of certain of its current products and product candidate development. In addition, Amgen competes with other companies with respect to some of its marketed products as well as for the discovery and development of new products. Discovery or identification of new product candidates cannot be guaranteed and movement from concept to product is uncertain; consequently, there can be no guarantee that any particular product candidate will be successful and become a commercial product. Further, some raw materials, medical devices and component parts for Amgen products are supplied by sole third-party suppliers.
IDA Ireland: Thomas McEvoy, Tel: +353 (0) 1 6034255, Mobile: +353 (0) 87 7426684;
Email: [email protected]
To access the media portal for this announcement, go to http://dublinbiosciences.whpr.ie.
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