Case Study 14 Nov 2011

At a Glance

Pfizer is the largest pharmaceutical company in the world. It produces human and animal medicines and consumer healthcare products. Pharmaceutical sales represent 93% of total sales.Revenue as of December 2010: $67 billion. Pfizer has an excellent product portfolio, including 10 blockbuster drugs (sales over $1 billion).

“We chose Cork for this investment because of our very positive experiences in the region over many years and we are confident that its implementation will be seamless and that the innovative and highly skilled people we need will be there for us”.  Nat Ricciardi, Pfizer Global Manufacturing commenting on the decision to locate a Pfizer Biologics Facility in Co. Cork

Company in Ireland

Pfizer is one of Ireland’s leading employers and the largest pharmaceutical investor. One of the first pharmaceutical companies to locate in Ireland (1969), Pfizer has a rich heritage of innovation and expression over a forty year period. Since its acquisition of Wyeth, the business now boasts over 4,500 colleagues across eight 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 Pharmaceutical, Nutritionals, Vaccines and Biopharmaceuticals; Global Financial Services centre and a global Treasury operation.

The Irish operations manufacture some of Pfizer’s best selling and newest medicines including Lipitor (cardiovascular), Viagra (urology), Sutent (oncology), Enbrel (rheumatology) and Prevenar (vaccines). Ireland is a leading manufacturing base for Pfizer globally; exporting to global markets, Total investment by the company in Ireland exceeds $7 billion.

How Ireland benefits Pfizer

  • High Quality Manufacturing

Ireland’s commitment to the highest pharmaceutical manufacturing standards helps ensure that Pfizer’s Irish sites meet and exceed international criteria.

  •  Access to Ireland’s Pharmaceutical Professionals

The Irish Government’s ongoing investment in the pharmaceutical sector has helped to create a bank of highly skilled pharmaceutical professionals and technicians

  • Ongoing support from IDA Ireland

As a key player in this national team, IDA Ireland works closely with our clients to ensure that they have the facilities, resources and connections they need for their business now and into the future.

Extra

On January 26th 2009 Pfizer and Wyeth announced that they have entered into a definitive merger agreement. The total transaction is valued at approximately $68 billion. 

Pfizer said it expects the deal to result in $4 billion in savings by the third year after closing. Pfizer also said it plans to reduce the combined company's global workforce by 15%.
 

More information at http://www.pfizer.ie/about_pfizer_in_ireland.cfm