IDA Ireland chief confident in Ireland's pharmaceutical sector, despite recent job cuts
The head of Ireland's inward investment promotion agency, IDA Ireland, has called for realism about the level of job losses in the multinational sector, amid fears that hundreds more jobs could be at risk in the pharmaceutical sector, reports the local Sunday Business Post.
Despite last week’s announcement that Schering-Plough, now a part of US drug major Merck & Co, is looking for 160 redundancies at its plant in west Cork, Barry O’Leary said that Ireland was faring relatively well in spite of cutbacks in the sector, which was going through a period of consolidation. “Any rationalization announcements from the pharmaceutical sector must be contextualised in terms of what is happening within the sector globally,” said the IDA chief executive.
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