Pharmaceutical giant Pfizer has confirmed that 180 jobs are to go at its manufacturing plant at Little Island, Cork.
The job losses come a month after the company announced the sale of the manufacturing facility had fallen through.
The facility, which produces active pharmaceutical ingredients, will close by the end of next year, a statement from the company said today.
The company, which is the world's largest research-based biomedical and pharmaceutical company and one of Ireland's largest pharmaceutical multinationals, is restructuring its manufacturing operations around the world.
However, the company said today that the end of production of its experimental cholesterol drug, Torcetrapib, was the most significant factor affecting its decision to reduce its manufacturing capacity in Ireland.
Clinical trials of the drug were halted by Pfizer after an independent monitoring group said patients taking the drug were at an increased risk of dying. Pfizer had spent $800 million developing the treatment.
The company, which employs some 2,200 people in Ireland, said today that following an "extensive" sales effort it has been unsuccessful in its efforts to sell the Little Island OPS 4–6 plant and, subject to redundancy consultation requirements, will close the facility by the end of 2009.
Pfizer’s vice president of manufacturing for Ireland and Singapore, Paul Duffy, said the company had tried to save the jobs.
“We have worked tirelessly over the past 18 months to sell the Little Island OPS 4 – 6 plant as a going concern in order that our 180 colleagues would be able to continue to working here,” he said.
"We were initially optimistic that we would find a buyer because there was considerable interest. Unfortunately, that interest has not translated into a sale.”
“This is a difficult day for all of our impacted colleagues and we all share in their disappointment”, he said.
According to today's statement, production of active ingredients for several Pfizer medicines at the plant will be phased out by the end of next year and employee numbers will be reduced "in line with a reduction in activities".
Lord Mayor of Cork Councillor Brian Bermingham spoke of his "deep regret" that the plant is to close. He called on "all the relevant agencies to work together in ensuring that Cork remains a strong and attractive location for employment and they would work constructively in seeking future diverse employment."
Labour Party deputy for Cork South Central Ciarán Lynch said there was "a serious risk of parts of Cork becoming unemployment blackspots". Mr Lynch claimed there was "no sign from the Government that they appreciate the scale and urgency of the challenge facing Cork."
"It is adopting a head in the sand approach to what is going on around it; we have seen no targeted measures put in place to address the significant job losses in the area. We need to put in place a programme to reskill those who have lost their jobs," he said.
Fine Gael TD Bernard Allen said the loss of the jobs would be devastating for the area. He called on the Government to immediately offer the company "every assistance to find a buyer" for the facility.
“This is a hammer blow for Cork city and county, already reeling from the effects of Brian Cowen’s recession," he added. “State agencies must immediately offer their services to the affected workers in terms of retraining and upskilling, to ensure they can find alternative jobs when the Little Island plant closes at the end of 2009."