Pharma company Mallinckrodt to create 75 new jobs in Dublin

Mallinckrodt, the Dublin-domiciled specialty pharmaceutical group, plans to create 75 high-skilled jobs, bringing total employees in its new Blanchardstown offices to 120 by next year.

The new roles are being led by the creation of the global research and development (R&D) facility for medical devices at the College Business and Technology Park in northwest Dublin, which will account for 40 positions to the campus.

Together with the announcement of a €45 million investment last year, this brings Mallinckrodt's total commitment to the new Dublin facility to €85 million. The project is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.

Mallinckrodt, founded in St Louis, Missouri, in 1867, has had a presence in Ireland for over 20 years, but its ownership and business in the State has changed dramatically since then.

The company was acquired in 2000 by then-Bermuda-based manufacturing and services conglomerate Tyco International, which seven years later separated its healthcare business from the group as an independent company, called Covidien, which was domiciled in Ireland.

Covidien, in turn, spun off Mallinckrodt as a New York Stock Exchange-listed, but Irish-incorporated, company in 2013. Covidien was acquired by Medtronic, the world's second-largest medical devices maker in 2014 for almost $43 billion (€38.5 billion) in a "corporate inversion" that saw Medtronic move its domicile to Ireland.

Acquisitions

Meanwhile, Mallinckrodt engaged in a wave of acquisitions as it focused on therapies for autoimmune and rare diseases. In May last year it based its executive offices in Chesterfield, England, where it is now resident for tax purposes. It has a market value of almost $8.2 billion (€7.3 bn).

Late last year, Mallinckrodt sold off its contrast media and delivery systems, including its then main Irish facility in Damastown, Mulhuddart in Dublin, to French drugs company Guerbet.

"Today's dedication and announcement reaffirms Ireland's strategic importance to Mallinckrodt as we continue with our transition to become a high-growth, global specialty pharmaceutical business," said Mark Trudeau, president and chief executive of Mallinckrodt.

“We are in the process of bringing global R&D activities for medical devices to this location and the team will focus on developing systems for delivery of certain specialty pharmaceutical therapies in our portfolio.”

IDA Ireland chief executive Martin Shanahan said the biopharma industry employs more than 25,000 in Ireland and accounted for over €30 billion of exports.

The College Business and Technology Park in Blanchardstown, developed jointly by Fingal County Council and IDA Ireland, has become something of a hub for pharma companies. Other companies with operations there including Bristol-Myers Squibb and Alexion.