– Announces new €10 million R&D facility to house global device engineering –
– Creates 40 R&D jobs and grows total to 120 new roles at new site –
Dublin, Monday, 19 September 2016 – Mallinckrodt plc (NYSE: MNK), a leading specialty pharmaceutical company, today is officially opening its new offices in College Business and Technology Park in Blanchardstown, Dublin, and announcing creation of a new €10 million state-of-the-art Research and Development (R&D) facility at the location. The R&D facility will house global device engineering for the company and bring 40 more new jobs to the site, bringing the overall total of new positions there to 120 by 2017. With its May 2015 announcement and this commitment, Mallinckrodt’s total investment in the site has grown to €85 million. This project is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
Mallinckrodt has a long history of operations in Ireland and has had a presence there for over 20 years. Its new offices at the College Business and Technology Park, Blanchardstown will be dedicated this morning by Minister for Social Protection, Leo Varadkar TD, and Mallinckrodt President and Chief Executive Officer, Mark Trudeau.
Commenting, Leo Varadkar, local TD and Minister for Social Protection, said "I’m delighted to announce this new investment by Mallinckrodt in Blanchardstown. This company is at the cutting edge of new and innovative treatments and the range of facilities being developed here is an exciting development. The Government has worked hard to create the right conditions for cutting edge Pharma and BioPharma companies to locate in Ireland and the provision of high quality jobs in this new Research and Development facility is very welcome. The number of people at work is back up to 2 million and unemployment continues to fall. This investment means more jobs and more quality jobs in our community.”
Commenting, Mark Trudeau, President and Chief Executive Officer of Mallinckrodt, said: “Today’s dedication and announcement reaffirms Ireland’s strategic importance to Mallinckrodt as we continue with our transition to become a high-growth, global specialty pharmaceutical business. We are in the process of bringing global R&D activities for medical devices to this location and the team will focus on developing systems for delivery of certain specialty pharmaceutical therapies in our portfolio.
Over more than two decades, our Irish colleagues have been a significant asset to our business. We are now entering a new and exciting era for Mallinckrodt in Ireland, which will continue to play an important role in the development of our global business.”
Commenting, Martin Shanahan, Chief Executive of IDA Ireland, said: “The biopharma industry is one of the fastest growing sectors in Ireland. Ireland is a leading location for the manufacture and development of biopharmaceutical medicines in the world. In 2015, the sector employed over 25,000 people in Ireland and has accounted for over €30bn in exports. Biopharma companies like Mallinckrodt are currently developing and manufacturing these “next generation” of medicines from their base here in Dublin. I wish Mark and the Mallinckrodt team every success as they continue to grow their operations in Ireland.”
Welcoming today’s announcement, Dr. David Keenan, Vice President, Global External Supply and Managing Director, Mallinckrodt Pharmaceuticals, Ireland, said, “Building this R&D facility focused on global device development significantly adds to the importance and range of operations that will take place at our new College Business and Technology Park site. Our new corporate offices are now complete and teams are moving in. Construction continues on our new manufacturing facility, and fit-out and commissioning processes are underway. The new jobs being created offer a diverse range of skilled roles in research, product development, manufacturing and commercial support functions.”
Note to Editors:
For reference, issued on behalf of Mallinckrodt Pharmaceuticals by FTI Consulting. For media queries, contact:
Mallinckrodt is a global business that develops, manufactures, markets and distributes specialty pharmaceutical and biopharmaceutical products and therapies, as well as nuclear imaging products. Areas of focus include autoimmune and rare diseases in specialty areas like neurology, rheumatology, nephrology, pulmonology and ophthalmology; immunotherapy and neonatal respiratory critical care therapies; analgesics and hemostasis products; and central nervous system drugs. The company's core strengths include the acquisition and management of highly regulated raw materials and specialized chemistry, formulation and manufacturing capabilities. The company's Specialty Brands segment includes branded medicines; its Specialty Generics segment includes specialty generic drugs, active pharmaceutical ingredients and external manufacturing; and the Nuclear Imaging segment includes nuclear imaging agents. To learn more about Mallinckrodt, visit www.mallinckrodt.com.
Mallinckrodt uses its website as a channel of distribution of important company information, such as press releases, investor presentations and other financial information. It also uses its website to expedite public access to time-critical information regarding the company in advance of or in lieu of distributing a press release or a filing with the U.S. Securities and Exchange Commission (SEC) disclosing the same information. Therefore, investors should look to the Investor Relations page of the website for important and time-critical information. Visitors to the website can also register to receive automatic e-mail and other notifications alerting them when new information is made available on the Investor Relations page of the website.