IDA Ireland Revenue and Competitors

The Minister for Enterprise, Trade and Employment, MicheA¡l Martin T.D., today (Friday, September 7, 2007) announced that Genzyme Corp - one of the world's largest biotechnology companies - is to invest up to a potential of â,¬20m, with the support of IDA Ireland, to create additional product and process development facilities at its manufacturing campus in Waterford where more than 380 people currently work. The investment will potentially create an additional 18 high level research and development (R&D) positions within three years. Genzyme Ireland currently manufactures three products - Renagel tablets as well as Cerezyme and Thymoglobulin injections - at its Waterford-based fill and finish facility. The latest phase of investment will increase and expand the scale of on-site activity, allowing the Waterford operation to incorporate additional product areas such as oncology, cardiovascular, speciality products and renal disease. Minister Martin said: "We strongly welcome Genzyme's continuing commitment to their operations in Waterford where they have already invested over â,¬270m. This underlines the continued ability of the southeast region to attract this type of high-level investment. Genzyme's facility is thriving and the ongoing investment programme is a strong indicator of the company's success here to date. Through this investment, the company is adding increasingly valuable functions to its Irish operations. "Genzyme Corp has more than 70 locations in over 30 countries globally and the continued growth at Waterford is a reflection on the commitment and quality of the team there. Genzyme Ireland can be proud of their proven track record of growth and innovation."According to Dominic Carolan, General Manager, Genzyme Ireland: "We will now be able to further enhance the level of development work at Waterford. The work which this investment will bring to Waterford is an extension of the research currently being carried out by the company globally. In the six years since the Irish operation was established it has gone on to prove itself an excellent location for product and process development. It has successfully and rapidly brought small molecule and biologics onto the site and introduced a research and development group which has an outstanding and documented track record for development. "Up to 6 new product introductions are planned in the next few years, both biologics and oral dose, which will bring to nine the products being supplied from Waterford to our patients globally," added Mr Carolan. "These are exciting times for Genzyme Ireland as we also continue to ramp up our manufacturing output and increase our employment as we invest further in the site infrastructure."One of the world's foremost biotechnology companies, Genzyme is dedicated to making a major positive impact on the lives of people with serious diseases. Founded in Boston in 1981, Genzyme has grown from a small start-up to a diversified enterprise with annual revenues exceeding $3 billion and more than 9,500 employees in locations spanning the globe. The Massachusetts-based company established its Irish operations in 2001. With many established products and services helping patients in nearly 90 countries, Genzyme is a leader in the effort to develop and apply the most advanced technologies in the life sciences. The company's products and services are focused on rare inherited disorders, kidney disease, orthopaedics, transplant, cancer, and diagnostic testing. Genzyme's commitment to innovation continues today with a substantial research and development program focused on these fields, as well as immune disease, infectious disease, and other areas of unmet medical need. Media contacts: