Pharmaceuticals company enters into agreement with IDA Ireland

Business, Technology | Fri 13 Jan | Author – Business & Finance
eye

Aerie Pharmaceuticals has entered into a lease agreement with IDA Ireland to establish a new manufacturing plant in the recently constructed IDA Advanced Technology Building in Athlone.

The Athlone facility will house Aerie’s first manufacturing plant, which is expected to produce commercial supplies for Aerie’s current product candidates, Rhopressa and Roclatan.

If approved, these products are expected to offer the first new mechanisms of action for treatment of patients with glaucoma in some 20 years.

Estimated project-wide construction and equipment costs are expected to total approximately €25m and commercial product supply for Rhopressa, if approved, is expected to be available by 2020.

Aerie has commenced its design plan for the facility and expects to begin internal construction in early 2017. The company will initially create up to 50 new jobs in sterile manufacturing, quality, engineering and other support capabilities.

Vicente Anido, CEO and chairman at Aerie, said: “We have now achieved another milestone in executing our stated long-term strategy. As we prepare for commercialisation, it is increasingly important that we ensure greater independence regarding our finished product sourcing while also meaningfully reducing our future product costs. We are grateful to our IDA colleagues in Ireland for their cooperation throughout this process and the incentives that we have been granted.”