From today, Abbott has separated into two listed public companies and nearly 400 Irish staff in Sligo, Cork and Dublin began working for AbbVie, the newly established global research-based pharmaceutical company.
Building on Abbott’s 125-year heritage, AbbVie launches with an estimated US$18bn in annual revenues and more than 20 mid- to late-stage clinical programmes in the pipeline. In 2013, the company will employ about 21,000 people worldwide, marketing medicines to more than 170 countries.
“This is an exciting day for AbbVie and our 400 colleagues in Ireland,” said Ryan Quigley, general manager of AbbVie Ireland. “We look forward to working together with patients and healthcare partners to meet the healthcare needs in Ireland.”
Abbott has had a presence in Ireland since 1946 and its first Irish manufacturing operation was established in Sligo in 1974. Early in 2012, Abbott invested €85m in this facility and this expansion plan will continue under the auspices of AbbVie, scheduled for completion in 2014 with 175 highly skilled jobs coming online by 2015.
AbbVie now employs more than 175 people in Sligo, as well as 130 in an additional manufacturing facility in Cork, with the remaining staff based in its commercial offices in Dublin.
Representatives from AbbVie today rang the first opening bell on the New York Stock Exchange, where the company is listed as ABBV.