A shot in the arm

PHARMACEUTICALS:THE INCREASING importance of the pharmaceuticals and medical device sectors to the economy is illustrated by their strong showing the Top 1,000 list. Twelve companies rank among the top 100 and a further 21 are placed between 1001 and 200.

The strength of the sector is to be expected, with Ireland hosting operations for the vast majority of the global leaders in pharmaceuticals, biotech and medical devices.

However, the rankings reflect in part the mixed fortunes the industry has enjoyed over the past year.

Janssen Pharmaceuticals is by far the largest pharma business in the State, according to the list. Janssen is part of Johnson & Johnson drug corporation, which has seven businesses in Ireland. The company jumped one place in the rankings this year to number 5, swapping positions with computer chip giant Intel.

With a manufacturing plant at Little Island in Cork, it specialises in treatments for mental illnesses.

It reported turnover of €7.1 billion and profits of €2.3 billion in 2006. The company's figures the previous year were somewhat skewed by a €6.7 billion dividend paid to its US parent as part of a US tax amnesty for repatriated profits.

Two other J & J companies feature prominently in the list. Contact lens manufacturer Vistakon slips slightly this year to rank 126th, down from 108th in 2007, on estimated revenues of €400 million last year. Orthopaedic device maker De Puy came in at 162, a drop of 24 places on last year, with estimated revenues last year of €300 million.

A host of familiar names feature in the top 200, including several Wyeth subsidiaries, Pfizer, Eli Lilly, Elan, Bristol Myers Squibb and Allergan. However, the second largest pharma business in the State, according to the rankings is listed pharmaceuticals distributor United Drug with reported revenues of €1.58 billion in the year to the end of September 2007. Rival Uniphar also appears in the top 100, at 71, while Cahill May Roberts is ranked at 151.

However, a number of less well-known names also feature prominently. They include Swords Laboratories at number 44, Forest Laboratories at 46, Astellas at 73 and Gilead Sciences at 78.

Gilead, which reported revenues of €670.7 million in 2006 - its most recent reported figures - did not make the list last year. The company, whose Irish operation manufactures HIV medication at reduced costs to countries in the developing world, last year acquired rival Nycomed in a €34 million deal.

Forest Laboratories saw its profits almost double in the year to March 2007, and the Irish operation reported profits just short of those reported by the US parent group. Astellas is the result of a merger of two firms - Fujisawa and Yamanouochi - in 2005. Swords Laboratories is a subsidiary of US giant Bristol Myers Squibb.