Home Knowledge Ezine – Life Sciences & Healthcare – February 2011

Ezine - Life Sciences & Healthcare - February 2011

Welcome to the new edition and format of our Life Sciences e-zine.

At a time when there is too much doom and gloom around, it is nice to be able to give some good news for a change.  Recent figures showed a trade surplus in July of €4.48 billion, which is approaching double the figure for the same month two years previously. Life sciences accounts for one third of Ireland’s €160 billion of exports and is expected to increase by 10% this year. Clearly, this industry is going to play a key role in Ireland’s recovery from its current economic difficulties.

At William Fry, we have been busy with life sciences transactions, including our work (mentioned within) advising Trinity Biotech plc on the sale of its worldwide coagulation business for USD 90 million to the Stago Group. We advised on all aspects of the disposal in a truly international deal involving operations in EU countries, the United States, Turkey, Australia and Brazil.  It is an indication of the global reach that Irish businesses have successfully achieved.

We have also assisted Millipore in its merger with Merck, creating a new entity Merck Millipore that offers a comprehensive range of products, technologies and services to pharma and biotech companies to improve laboratory productivity as well as develop and optimize manufacturing processes.

Overall, looking at our recent transactions, we’re seeing more research & development activity being conducted in Ireland as work moves up the value chain.  Also, we’re seeing more and more companies moving some or all of their intellectual property to Ireland, often to avail of the many tax advantages on offer, as well as building on the expertise available from successful operations that most of the world’s largest companies in this sector have already located here.  It is a strong and welcome trend that we expect to grow further. 

 

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