Ireland’s vibrant life sciences industry is thriving, excelling across pharma, biotechnology, medical devices, diagnostics and digital health. Benefitting from a highly integrated and innovative ecosystem that includes renowned researchers, innovative start-ups and a significant multinational presence, Ireland has much to offer partners in the sector. Having enjoyed exponential growth and a stream of significant investments in recent years, Ireland has ambitious plans to further cement its position as a major global player.
Read about three Irish companies to watch out for this year.
Solvotrin Therapeutics, the Cork-headquartered life sciences company, aims to capitalise on the booming $10bn global iron market. This year, the company is expanding its UK presence through aggressive expansion of its ‘Active Iron’ supplement to 7,000 UK stores. By the end of the year, approximately 80 per cent of the company’s revenue will come from the UK.
By collaborating with scientists at Trinity College Dublin, the company developed a unique method of delivering iron, eliminating potential side effects while improving absorption. ‘Active Iron’ is already available in 500 Boots branded stores, 300 independently owned Alphega pharmacies, the Day Lewis Pharmacy, Holland & Barrett and Numark Pharmacy. Solvotrin is focusing on growing in the UK over the next two years, with plans to expand further within Europe, into the US and Far East by 2019.
Another Irish player taking the UK market by storm is Anecto, the Galway-based independent ISO-17025 accredited Test Laboratory. Named supplier of the year to the medical technology sector at the Irish Medtech Awards 2017, Anecto boasts the widest range of testing services in Europe for medical devices.
Building on established partnerships with UK businesses, the company has been steadily growing in the UK over the last seven years. Since 2011, UK sales have increased by 3,000 per cent, while the number of UK companies supported by Anecto has grown by 950 per cent.
Over 85% of the world’s top medical device manufacturers work with Anecto, which now also provides formal training, test method development, test method verification and validation services.
Acorn Regulatory, the ISO-certified medical device and pharmaceutical consulting firm, has also been continuing to grow rapidly in the UK market.
Considered one of the largest pharmaceutical and medtech regulatory firms in Europe and active in over 76 markets overall, Acorn Regulatory opened its first UK office last year, and is planning to double its number of UK employees this year.
With over 25 UK projects at present, Acorn Regulatory is supporting emerging UK partners with clinical trials and as an outsourced regulatory and pharmacovigilance partner.
To identify your Irish partner, please contact Sheila O’Loughlin, Senior Market Advisor.