Damien English, Ireland’s Minister for Skills, Research, and Innovation, recently launched a new facility devoted to the development of pharma manufacturing technology. The Pharmaceutical Manufacturing Technology Center or PMTC, has been set up with an investment of over 5 million euros that will be spread over the next five years. Ireland’s department of Jobs, Enterprise and Innovation has invested heavily in this center with a view to delivering technological breakthroughs that are focused on the pharmaceuticals manufacturing sector. It will also address other contemporary issues that currently pose a challenge to the pharmaceuticals sector in Ireland.
The PMTC is among the 15 Technology Centers that have been established under the aegis of the Irish government. These centers have been set up in collaboration with the IDA Ireland and Enterprise Ireland.
The headquarters of the center will be located at the University of Limerick, and will see nearly 24 industry partners joining hands to bring about more innovations in the Irish pharma sector. The center will also benefit from the research and development activities of nine higher education institutes from the country.
A need for such a center was felt because Ireland wants to make a mark in the global pharmaceutical market and emerge as a global hub for pharma manufacturing. The pharmaceutical industry in Ireland offers employment to nearly 25,000 people.
The pharmaceutical industry here is facing two key challenges: patent expiry and cost competitiveness. As an industry that contributes nearly 40 billion euros to the overall Irish export revenues, pharma players hope to find innovative ways to overcome these challenges.