IDA Ireland welcomes Hovione’s recruitment of 80 jobs and commencement of operations in Cork

Ireland displays continued success in securing high value global FDI across a wide variety of sectors

Barry O’Leary, CEO of IDA Ireland, today (Wednesday 22nd April 2009) welcomed the start-up of operations by Hovione at its new API manufacturing facility at Loughbeg, Ringaskiddy, Co. Cork. Over the next 24 months Hovione will employ 80 people and secure the future of the site through the validation of new processes for the manufacture of new compounds. Hovione’s investment in Loughbeg, supported by Government through IDA Ireland, is further proof that Ireland continues to win high quality manufacturing foreign direct investment (FDI) and is viewed very positively by international investors,” said Mr. O’Leary speaking in Cork.

Hovione is an international group specialising in the development and compliant manufacture of active pharmaceutical ingredients (APIs). Its services cover every scale of production - laboratory, pilot and intermediate – and include R&D support and commercial manufacturing. Hovione’s commencement of operations in Cork follows its acquisition of the Pfizer API facility at Loughbeg, which was announced last December.

Mr. O’Leary continued “The current global business climate of challenge and change offers forward-looking companies significant opportunities to implement a strategy of growth and development – Hovione is one such company. This project is one of a number of significant manufacturing, RD&I and services investments which have located in Ireland in recent months. This investment displays Ireland’s ongoing ability to secure high value investments in global FDI. Ireland continues to be a prime location for projects from across all sectors.”

Miguel Calado, CFO, Hovione, said “This investment is in line with our latest strategy to serve Innovator companies launching their new compounds. We decided to have a site in Cork because of the regions high concentration of API production, its vast and deep talent pool and its excellent cGMP record with the health authorities. Hovione believes the Loughbeg site offers everything that our customers might want. It is a modern, well equipped operation, meeting the highest standards in the global industry.’’

Guy Villax, Chief Executive, Hovione, added “The Cork plant is multi-purpose and is able to address a large number of specialised chemistries. We have been manufacturing in China for over 25 years - we know very well what China can do for the Pharma industry, but we also know what it can't do - and it is for those reasons that we are now in Cork. As a contract manufacturer we bring to Cork a new business model, it is one that offers a great future for those that can be lean and nimble. Success will require high levels of productivity and a tough attitude towards cost. I think this challenge is not exclusive to Hovione, many in Ireland need to meet this test. We have the right team, we will succeed.”

Mr. O’Leary concluded “The recruitment and commencement of operations by Hovione is extremely good news for Cork as it ‘brings-on-stream’ a significant number of highly skilled jobs and also maintains the continuity of operation at the international standard facility. The current changing global business environment, while offering challenges to some companies offers opportunities to others. In this instance, the ready-availability of the world-class facility has given Hovione the ability to quickly implement its new strategy for growth.”

About Hovione
Hovione is headquartered in Loures a suburb of Lisbon, Portugal. With a 50-year track record, Hovione offers advanced technologies as well as APIs for all drug delivery systems, from oral to injectable and from inhalation to topical applications. With FDA inspected plants in Europe, Asia and US, Hovione is committed to the highest levels of service and quality. Specialising in complex chemistry and in particle engineering, Hovione offers all services related to the development, manufacture and pre-formulation of both new chemical entities (NCEs) and existing APIs for off-patent products. For further information about Hovione, please visit the Hovione site at www.hovione.com

Contact Information:
Hovione - Corporate Communications, Isabel Pina, + 351 21 982 9362, hello@hovione.com

IDA Ireland - Brendan Kenny, Press & PR, Tel : 087 9036126