IDA Ireland says Alkermes job cuts ‘regrettable but understandable’
Between 25 and 30 employees will lose jobs at the Athlone facility, where the firm makes medicines to treat central nervous system diseases.
Alkermes said changes to its product portfolio, increased generic competition and R&D programme reforms informed the decision.
“After a review of our operations and a careful assessment of possible alternatives, we have concluded that we expect to reduce the number of employees at our Athlone facility,” said Alkermes.
The Dublin-headquartered company said it plans to consult with employees immediately to initiate compulsory redundancies.
“Favourable redundancy terms and outplacement services will be provided to affected employees and discussed as part of the consultation process,” said Alkermes.
The firm will continue to invest in the Athlone facility, which will “remain strategically important to Alkermes’ global development and manufacturing network,” it added.
IDA Ireland support
The Green Isle’s Industrial Development Authority, IDA Ireland, said it will continue to work with Alkermes to support future plans at its Athlone site.
“This is regrettable but understandable in the context of changes to the company’s product portfolio and changes in its R&D development strategy,” said the Authority
“IDA Ireland is satisfied that the company’s Athlone facility will continue to play an important role it is strategic global development and manufacturing operations with plans for substantial investment in both infrastructure and R&D capacity,” it added.
In 2013, Alkermes announced plans to restructure its product lines and cut 130 jobs at the Athlone facility.
