Growth in Ireland last year for Abbott Laboratories exceeded the corporation's global figure and could in part be attributed to the favourable climate for the introduction of new medicines and break-through new products, Mr Bill Dempsey, senior vice-president of international operations, announced at the opening of Abbott's new commercial headquarters at Citywest Business Campus in Dublin yesterday.

He said Abbott had experienced terrific growth over the past number of years. "We have achieved record sales and net earning worldwide of €18.5 billion and €3.2 billion, respectively, in 2001 and our performance last year resulted in the market value of the company increasing by almost €14 billion.

"Today, our five plants in Ireland employ over 1,700 people and manufacture and distribute products to more than 70 countries. In fact, in 2001, products manufactured at our Irish plants contributed over €397 million to Ireland's total exports and the company contributed more than €129 million to the Irish economy."

Abbott's current investment in the Irish market exceeds €168 million and, in addition, the company is developing a new €55 million pharmaceutical manufacturing plant in Sligo.

The pharmaceuticals giant launched three new products on the Irish market in 2001 alone, managing director of Abbott Laboratories Ireland, Ms Bonnie Shaul, said. These were Reductil for treating obesity, Kaletra, a product for the treatment of HIV and Uprima for treating erectile dysfunction. In addition, Abbott acquired the pharmaceutical business of BASF worldwide. Continued growth and this acquisition precipitated the move to the 24,000 sq ft Citywest premises which will house the sales, marketing, customer service, medical and distribution functions, with around 50 staff.