Drugs company Elan is to cut 230 jobs from its global workforce including 115 jobs in Ireland.
The firm said in a statement the move was part of efforts to “rigorously manage its overall cost base”. The jobs will be lost in two areas in Ireland - the fill-finish facility in Athlone and in the biologics planning and operation facility, which is based in both Athlone and Dublin.
It is understood that between 70 and 80 per cent of the Irish job losses will come from the Athlone plant. Some 580 staff will remain employed by Elan in Ireland following the job losses.
A total of 115 other jobs will be lost in the United States, mainly in the areas of research, clinical development, biopharmaceutical development, and related corporate support and administrative services.
Elan, which manufacturers multiple sclerosis drug Tysabri, earlier this month reported strong growth in sales last year. But the company last month hired Citigroup to conduct a strategic review.
In the fourth quarter of 2008, Elan reported a 24 per cent rise in sales on the same period last year to €210 million, driven by a 68 per cent rise in revenue from Tysabri and a better-than-expected 14 per cent increase in turnover at the Elan Drug Technologies (EDT) division the company tried to offload last year.
The company employs approximately 1,700 people worldwide. Its headquarters is in Dublin, but it has offices in Bermuda, the United States and Japan.
Elan chief executive Kelly Martin said the “internal realignment” was driven in large part by an assessment of the biopharmaceuticals division carried out by Dr Carlos V Paya, who joined Elan as president late last year.
“The internal business review was conducted in addition to and separately from the previously announced and on-going corporate strategic review process which, should it be successful, may bring additional capabilities to Elan and further augment the company’s improved financial performance and increased revenues reported in 2008,” he added.
Mr Martin said Elan remained committed “to the precise and specific investment in new talent, new technologies and novel therapeutic opportunities in the neuroscience field”.
