Genzyme votes confidence in Ireland with €150m investment at Waterford site
Chris Viehbacher, CEO, Sanofi at the Genzyme opening
Today marks the completion of our latest site development. I want to acknowledge and thank everyone who worked on this important project. Specifically, I would like to recognise the contribution of the team on site, the support by government agencies such as IDA Ireland and our many external partners in achieving this success.
Pat O'Sullivan, Vice-President & General Manager, Genzyme Waterford
Waterford, Ireland - October 11, 2011 - Genzyme, a Sanofi company, officially inaugurated a €150 million expansion at their biotechnology campus in Waterford today. Richard Bruton TD, Minister for Jobs, Enterprise & Innovation, officially opened the new facility at the ceremony attended by Councillor Pat Hayes, Mayor of Waterford; Christopher A. Viehbacher, Chief Executive Officer, Sanofi and Barry O'Leary, Chief Executive Officer, IDA Ireland (Industrial Development Agency).
The biotechnology site employing 500 people has seen capital investment of €500m since Genzyme's arrival in Ireland 10 years ago. The most recent investment has increased capacity at the company's manufacturing operation, accompanied by additional development capability, laboratory facilities and administration offices.
Minister Bruton said: "Today's opening is great news as Genzyme, a world-leading company in this sector, is deepening its commitment to Ireland and Waterford with this €150m investment."
"Biotechnology and pharmaceuticals have been major parts of the success of multinational investment in Ireland in recent years. If we are to get out of the crisis we are in, we must continuously build on these strengths. We must continually encourage companies in these sectors to locate more important parts of their operations in Ireland. We must also build on their presence here to create an indigenous engine of growth. I am determined to make the changes necessary to do just that and create the jobs we so badly need."
Speaking on his first visit to Ireland since Genzyme was acquired by Sanofi earlier this year, Christopher A. Viehbacher, Chief Executive Officer, Sanofi said: "Waterford is a strategic site within Genzyme and products from this location make a great difference in the lives of patients in more than 70 countries. Many of these patients have medical conditions for which there were previously no viable treatments.
"As we continue our integration with Genzyme, I am delighted to have the opportunity to visit the Waterford facility on this important occasion and to meet the team who deliver a strong performance every day as we work tirelessly to deliver innovative solutions to unmet needs."
Dominic Carolan, Senior Vice-President, Manufacturing Operations, Genzyme, said: "This is a big day for the Waterford site to have our new CEO, Chris Viehbacher, visit. The acquisition of Genzyme by Sanofi offers tremendous opportunities for growth for the Genzyme brand as part of Sanofi. Waterford is well positioned to help achieve this potential with this investment. The site team is clearly enthusiastic about the opportunity."
Pat O'Sullivan, Vice-President & General Manager, Genzyme Waterford, added: "Today marks the completion of our latest site development. I want to acknowledge and thank everyone who worked on this important project. Specifically, I would like to recognise the contribution of the team on site, the support by government agencies such as IDA Ireland and our many external partners in achieving this success.
"The expansion of our biologics sterile finishing facility strengthens Waterford's position as a manufacturing centre of excellence and also allows us to continue to achieve our core mission of providing therapies for our expanding patient population with rare genetic conditions."
Welcoming the Genzyme expansion, Barry O'Leary, CEO, IDA Ireland, commented: "This is a tremendous achievement and firmly underlines Ireland's position as one of the leading global locations for the development and manufacturing of pharmaceuticals and biopharmaceuticals. This expansion will greatly add to the southeast's reputation as a valued location for foreign direct investment. Ireland is a key location for the life sciences industry with nine of the top 10 global pharmaceutical companies now based here. Today's investment marks a continued commitment by Genzyme to its operations in Waterford and I congratulate the company and commit IDA Ireland's continued support into the future."
About Genzyme, a Sanofi Company
One of the world's leading biotechnology companies, Genzyme is dedicated to making a major positive impact on the lives of people with serious diseases. Since its founding in 1981, the company has introduced breakthrough treatments that have provided new hope for patients. The company's areas of focus are rare genetic diseases, multiple sclerosis, cardiovascular disease, and endocrinology. Genzyme is a Sanofi company. Genzyme's press releases and other company information are available at www.genzyme.com.
Sanofi, a global and diversified healthcare leader, discovers, develops and distributes therapeutic solutions focused on patients' needs. Sanofi has core strengths in the field of healthcare with seven growth platforms: diabetes solutions, human vaccines, innovative drugs, rare diseases, consumer healthcare, emerging markets and animal health. Sanofi is listed in Paris (EURONEXT: SAN) and in New York (NYSE: SNY).
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