Opko Health Inc (OPK)

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OPKO “EirGen Pharma is a stand-out example of an ambitious, innovation-led Irish company that is achieving strong export-led growth.”

A story full of success
BUSINESS | FRI 21 AUG | Author – Niamh Mac Sweeney

BREATHING LIFE INTO SCIENCE

There is no shortage of life science companies setting up in Ireland, and while global multinationals are the cornerstone of the industry here, indigenous science-based enterprises are preforming strongly and holding their own too.

Building a hugely successful pharma company from start-up status 10 years ago, to its recent sale worth $135m, Patsy Carney and Tom Brennan, co-founders of EirGen, have shown their commitment to investing in Ireland, its people and the industry in general.

Last year EirGen created 40 new jobs following a €4m investment, and this year the company has been sold to US-based Opko for $135m (€120m). Opko’s CEO, Philip Frost said the main reason they were interested in EirGen was because it is one of the leading developers and suppliers of high-potency niche pharmaceutical products in the world.

Co-founder and chief technical officer, Tom Brennan, said: “Official figures show that the life sciences sector is the fastest growing area of Ireland’s export industry.

“We hope that our continuing efforts will inspire other high-end technology companies to invest – and re-invest – in the region, providing further opportunities for employment growth while driving forward efforts to secure Ireland’s future as the location-of-choice for world-leading research and manufacturing industries,” he continued.

Julie Sinnamon, CEO, Enterprise Ireland said: “EirGen Pharma is a stand-out example of an ambitious, innovation-led Irish company that is achieving strong export-led growth.”

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