Irish Biopharma Amarin kicks off sales in the US
Vascepa, a drug developed by Irish biopharma group Amarin, which gained FDA approval last July for the treatment dangerously high cholesterol, has gone on sale in the United States. Vascepa, essentially a purified omega-3 fish oil, marks a vindication for the company which came close to collapse at one point in the drug’s development. Vascepa reduces high triglyceride levels in the blood without causing elevations of LDL-C, the so-called “bad cholesterol.” GlaxoSmithKline’s competing fish-oil pill Lovaza also lowers triglycerides but at the expense of rising bad cholesterol. Amarin management has cautioned investors not to expect Vascepa to rocket out of the starting gate but the company is expecting significant success with the drug. By 2014, Amarin may have more of an advantage over GSK if FDA approves an expanded indication for Vascepa allowing the drug to be marketed for patients with high (as opposed to very high) triglyceride levels. Significant use in this larger patient population may not really ramp, however, until Amarin can prove that the combination of Vascepa and a statin reduces the incidence and risk of cardiovascular disease. An on-going study designed to demonstrate this benefit isn’t expected to be completed until 2016.

Abbott Vascular announced 200 Redundancies
Last week, medical devices firm Abbott Vascular in Clonmel announced that it is seeking 200 voluntary redundancies from its permanent workforce. Abbott’s vascular facility in Clonmel currently employs more than 1,400 people and manufactures drug eluting stents for the global market. The company said the proposed redundancies are part of adjustments being made to “meet the evolving needs of the business and to remain competitive in a challenging global environment”. The company has maintained that the facility remains strategically important to its global vascular manufacturing network and that it remains committed to retaining and developing the site. The news is a blow for the Clonmel region however, with 1200 jobs remaining in place; the hope is that these jobs will transfer to other medical device and manufacturing sites in the region.

Sanofi announces €44 million in Genzyme’s biotechnology campus in Waterford
International pharmaceutical giant Sanofi has announced it will invest €44 million in Genzyme’s biotechnology campus in Waterford. The investment will see allow the plant diversify its output, adding a filling plant for the company’s leading insulin brand Lantus. Genzyme was taken over by French-based multinational Sanofi two years ago and Sanofi has decided to make Waterford its second manufacturing hub, along with Frankfurt, for Lantus. The company said yesterday that, subject to regulatory approvals, commercial production of Lantus at Waterford should commence in 2016. The investment will see up to 100 jobs created during the construction phase.

Lake Region Medical & Technopath win at Medical Technology awards
In December last year, Lake Region Medical, with operations in New Ross, Co. Wexford and Galway took the prestigious Medical Technology Company of the Year Award at the sixth annual Medical Technology Industry Excellence Awards. Technopath secured the title of emerging company of the year at the awards. Also on the night, DePuy Ireland received the Silver Medical Technology Company of the Year Award, while Stryker Ireland and Hollister were highly commended while neoSurgical received the Silver Emerging Medical Technology Company of the Year Award, while i360 and APICA Cardiovascular were highly commended. Lake Region Medical is an OEM of minimally invasive devices and components with clinically-focused product innovations. It is an industry expert in developing and marketing medical devices to meet unique clinical challenges for stimulation therapy, cardiovascular, neurovascular, and peripheral vascular applications. TECHNOPATH manufacturing is a privately held company that manufacture products for a number of multinational in-vitro diagnostic companies. Its products monitor the quality of Hospital Laboratory Blood Tests and prevent the reporting of incorrect results thus ensuring optimal patient care.

ICON continues strong growth with 18% rise in Net Revenue
Dublin-based Contract Research Organisation (CRO) Icon recorded an 18 per cent rise in net revenue to €839 million and a record €1.2 billion in new business in 2012. The Irish company, founded in UCD in 1990 by Dr. John Climax & Dr. Ronan Lambe completed its acquisition of the clinical trial service division of Cross County Healthcare earlier this month, which will be combined with its DOCS group to create a global resourcing group. This provides a solid foundation for further growth in 2013 and the company is expected to further strengthen its operations.

Creganna-Tactx Medical acquires ABT Medical
Creganna-Tactx Medical, a leading provider of medical device outsourcing solutions announced in October that it acquired ABT Medical. ABT Medical designs and manufactures medical balloons for Minimally Invasive devices serving a global portfolio of medical device companies. The acquisition of ABT’s technology will augment Creganna-Tactx Medical’s existing balloon design and manufacturing capabilities, particularly for Peripheral Vascular device applications, where the most sophisticated

AbbVie spins off to a Good Start
AbbVie, a new branded pharmaceuticals company spun off by Abbott Laboratories, whose Irish operation is based in Sligo and was formerly know as Abbott Pharmaceuticals is off to a promising start judging by recent sales of arthritis drug Humira and other products in its portfolio. The global sales of the branded drugs now belonging to AbbVie rose 7.4 per cent to $5.14 billion during the fourth quarter. In Ireland, AbbVie manufactures a range of active pharmaceutical products including a treatment for hyperparathyroidism in patients with chronic kidney failure, and a product used to treat Benign Prostatic Hyperplasia (BPH).

About the author: Eamonn O’Raghallaigh is Head of Technical Operations at Life Science Recruitment. G+ Profile | Twitter | Linkedin