Foster Announces 348 New Jobs and £54 Million Investment by Almac Group
Enterprise, Trade and Investment Minister Arlene Foster has announced that the Almac Group is investing over £54 million and creating 348 high quality jobs over the next 5 years.
The Almac Group operates in the pharmaceutical and biotechnology sectors providing services including drug discovery, diagnostics, research and development, manufacture of active pharmaceutical ingredients, formulation development and clinical trials.
It employs more than 2100 staff at its headquarters in Craigavon, with an additional 1380 staff located in facilities throughout the rest of the UK, US and Asia. The investment, supported by Invest Northern Ireland, relates to two of the Group’s operating business units, Pharma Services and Clinical Services.
Announcing the investment, Arlene Foster said: “Almac is one of Northern Ireland’s most successful indigenous companies and a globally respected brand. This significant investment will enable Almac to expand the range of services it can offer, allowing it to respond to key trends within the pharmaceutical industry and enhance its market-leading position.”
Almac Pharma Services provides contract development and manufacturing services to the world’s leading pharmaceutical and biotech companies. As well as recruiting 141 new staff over the next five years, the company will invest in new technologies and equipment to take advantage of the growing demand for outsourced development services.
Almac Clinical Services provides clinical packaging, labelling, logistics and clinical supply chain management services to the pharmaceutical industry. It is investing in cold chain storage and distribution facilities and enhanced information systems to capitalise on the demand from clients for closer partnering opportunities. The unit is creating 181 new jobs over the next 5 years.
The investments will also create a further 26 new jobs within the group.
“These 348 new jobs will generate salaries of over £9.4 million per annum when the projects are fully implemented. This is a significant cash injection for the local economy. The investments are also good news for our growing life sciences sector, which is gaining an international reputation for innovation and excellence,” added the Minister.
Invest NI has offered Almac Group £5.5 million of support towards its investment.
Alan Armstrong, Chairman and CEO of the Almac Group, said: “We are fortunate to employ an excellent highly-skilled workforce at our Craigavon headquarters which has played a major role in our global growth. It’s fantastic that demand for our services has resulted in the creation of so many new jobs as we embark on further expansion over the next 5 years.”
Related News
-
News Patients vs Pharma – who will the Inflation Reduction Act affect the most?
The Inflation Reduction Act brought in by the Biden administration in 2022 aims to give better and more equitable access to healthcare in the USA. However, pharma companies are now concerned about the other potential costs of such legislation. -
News CPHI Podcast Series: What does the changing US Pharma market mean for industry and patients alike?
In this week's episode of the CPHI Podcast Series Lucy Chard, Digital Editor for CPHI Online is joined by James Manser to discuss the political and market changes in the US pharma field. -
News CPHI Barcelona Annual Report illuminates industry trends for 2024
The CPHI Annual Survey comes into it’s 7th year to report on the predicted trends for 2024. Over 250 pharma executives were asked 35 questions, with their answers informing the industry landscape for the next year, spanning all major pharma marke... -
News Which 10 drugs are open to price negotiation with Medicare in the USA?
The Centres for Medicare & Medicaid Services, under the Biden administration in the USA, has released a list of the 10 drugs that will be open to price negotiations as part of the new legislation under the Inflation Reduction Act (IRA). -
News EU Medical Devices Regulation causes unintended disappearances of medical devices for children, doctors state
Doctor groups and associations have appealed to the EU to correct the EU Medical Devices Regulation law that may cause unintended shortages of essential drug and medical devices for children and rare disease patients. -
News 10 Major Drug Approvals So Far in 2023
Last year, 37 novel drugs were approved by the FDA, this was a high number for such a category, and covered many fields including oncology, demonstrating how promising further research is, and how it is only continuing to build. To date, there are alre... -
News Detecting Alzheimer's disease with a simple lateral flow test
A novel rapid diagnostic test for early-stage Alzheimer's disease has been developed using a biomarker binder from Aptamer Group along with technology from Neuro-Bio, the neurodegenerative disease experts. -
News CPHI Podcast Series: outsourcing and manufacturing trends
Listen to the CPHI Podcast Series this June to hear Gil Roth of the PBOA speak with Digital Editor Lucy Chard about the biggest trends and topics to watch in pharma outsourcing and manufacturing at the minute.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance