AN ENNISCORTHY businessman and former inter-county hurler has been announced as the Irish general manager of an exciting new research firm, with estimated global revenues of €13bn.
Almost 400 Irish staff from Sligo, Cork and Dublin at global pharmaceutical company Abbott have moved over to AbbVie, which will be fronted by Ryan Quigley of Davidstown.
The remaining 3,200 staff at 11 other sites across Ireland will continue to work for Abbott.
The new global research-based pharmaceutical company has been launched on the New York Stock Market, and its objective is to concentrate on the development of new medicines and continue to produce existing ones.
The company is focused on developing speciality pharmaceuticals that address complex, unsolved health problems, particularly chronic diseases, that now account for 75% of all health care costs.
There are currently more than 60 treatments in trials, including the development of treatments for diseases such as Hepatitis C, rheumatoid arthritis and multiple sclerosis.
Abbott will continue to operate a wide range of health companies, including branded generic medicines, medical devices and nutritional products.
[For full story, see this week’s Echo]
