Bioniche Pharma, a fully integrated, specialty pharmaceutical company, today announced that it will create 25 new jobs in the next 3 years in pharmaceutical research and development. The provision of a purpose built state-of-the-art R&D pharmaceutical facility, which was developed by Údarás na Gaeltachta adjacent to its existing manufacturing site in Indreabhán, Connemara at a cost of €2.5 million, has facilitated the expansion of the company’s pipeline development initiatives in pharmaceutical development.
Bioniche Pharma, which currently employs 160 people in Indreabhán and has sales in over 50 countries worldwide, is majority owned by RoundTable Healthcare Partners, a US based private equity firm that focuses exclusively on the healthcare industry.
Speaking at the official opening today, Chairman of Bioniche Pharma and founding partner of RoundTable Healthcare, Jack McGinley, made reference to the company’s continued growth since it was acquired by RoundTable in 2006 saying that it has successfully managed to triple its turnover and increased its staff from 100 to 160 in that period.
Speaking about the new R&D facility, CFO of Bioniche Pharma, Damien Kelly said “This expansion and investment in R&D underscores our continued commitment to building our product pipeline and is a big step towards securing the future growth of our business and employment in the Galway area.”
Liam Ó Cuinneagáin, Chairman of Údarás na Gaeltachta said that Údarás was very pleased to be able to facilitate the expansion of Bioniche Pharma’s R&D activities in the Connemara Gaeltacht. “The high-quality employment opportunities that this state investment will create is very important to the area and it also strengthens the company’s roots in the Irish economy and specifically in the Gaeltacht. It is vital that Gaeltacht-based companies have access to state-of-the-art research and development facilities that allow them compete on a global scale. This venture is a good example of how Údarás works with its client-companies to help them develop and expand their business.”