Athlone Laboratories acquired by pharma industry counterpart

Pharmaceutical company Athlone Laboratories has been acquired by industry counterpart, Gaelic Laboratories.

A statement issued by Gaelic Laboratories on Thursday confirmed the purchase of the Ballymurray based company, stating its commitment "to retaining personnel at the Athlone Laboratories site" following the acquisition.

Both Gaelic Laboratories and Athlone are well established pharmaceutical manufacturers with strong reputations in Beta-Lactam (penicillin) antibiotics.

Gaelic Laboratories said the move "strengthens the company's market position, enhances manufacturing capabilities, and leverages supply chain eBiciencies".

Brian Morrissey, General Manager of Gaelic Labs, said the "merger of the country’s two leading producers of Beta-Lactam products presents significant opportunities for future growth".

"The acquisition also aligns with Gaelic Labs' long-term vision to establish itself as a leader in the pharmaceutical industry, particularly in the production and distribution of Beta Lactam generic medicines.

“The deal is expected to deliver multiple financial and operational benefits, including cost savings through manufacturing consolidation, revenue growth and increased regulatory advantages," Mr Morrissey said.

The General Manager acknowledged that both companies "are a great match", being "key players in the supply chain for Beta-Lactam antibiotics".

“Gaelic Labs has always supported the creation of highly-skilled jobs in Ireland.

“With this acquisition, our total workforce has more than doubled to around 120 people, and we know that those people are the driving force behind our success.

"We are conducting several programnes for smooth operational transitioning, and to ensure we retain the experience and expertise that Athlone has become known for," Morrissey concluded.