Pharma giant MSD to invest €25m as it expands cancer trials
MSD is putting as much as €25m into an expansion of its clinical trials programme in Ireland that will focus on the latest developments in treating cancer.
The money will go towards Irish-based clinical trials and related research and development activity of the next three years. The company said it was timing the announcement to coincide with its sponsorship of World Cancer Day — a global awareness-raising initiative.
MSD Human health managing director Ger Brennan said the cash injection was “a signal of the potential we believe exists for growing Ireland’s standing in healthcare research and development globally”.
“The Irish Government has openly stated its ambition to make the pharmaceutical sector a cornerstone of economic policy and one of the main priorities for Irish economic growth going forward.
“Key to this will be embracing the potential of leading-edge R&D and putting in place the structures to maximise the potential returns for not just the Irish patient population, but also the economy generally,” he added.
“Ensuring increased numbers of Irish patients can participate in cancer trials, as well as trials for other conditions, is a key priority.” MSD employs 1,800 people in Ireland across its sites in Carlow, Cork, Dublin and Tipperary. Staff are engaged in activities including manufacturing and marketing.
It’s currently running 21 clinical trials here, having had a presence in Ireland for around 50 years, with $2.5bn invested in the country.
Bosses at the IDA are hopeful that more jobs in the pharmaceutical sector can be brought to Ireland. Last week, Armagh-headquartered pharmaceutical services group Almac announced it was opening a new facility in Louth as part of a global expansion.
IDA chief Martin Shanahan said that provided Almac with certainty of access to the EU in the long term. “This certainty of access is an increasingly important selling point for Ireland as we look to win business,” Shanahan said.
An IDA spokesman told the Sunday Independent further jobs could be won in the pharmaceutical sector by companies keen to ensure they had access to the single market.
The agency has previously shrugged off the threat of US President Donald Trump’s protectionist outlook.
”Our view is that in order to grow and be commercially successful, US companies will continue to want to internationalise and will need a worldwide presence to do so,” an IDA spokesman said.