In a 60 million euro ($63 million) expansion project, BioMarin is adding a new four-story laboratory to its Shanbally manufacturing site in Cork County, Ireland.
The new laboratory facility is intended to increase production capacity for currently approved treatments and make room for future growth, according to a press release from Ireland's Industrial Development Agency.
The investment in the site, which features end-to-end manufacturing capabilities and is BioMarin’s only manufacturing post outside the U.S., represents BioMarin's second major expansion there. Last year, the drugmaker unveiled a 38 million euro ($42 million) addition to the plant in the form of an aseptic production facility that took four years to build.
BioMarin’s presence in Ireland spans 13 years and includes a commercial office in Dublin, along with the Shanbally plant. The company employs more than 500 people in the country.
“The Shanbally facility plays a crucial role in our global network, and this expansion emphasizes our confidence in Ireland’s skilled workforce and the strategic importance of this site to BioMarin’s long-term success,” the company's chief quality officer, Evelyn Marchany Garcia, noted in the release.
Under new CEO Alexander Hardy, BioMarin is looking to quadruple its patient reach over the next decade and pull $4 billion in annual revenues by 2027. The mission includes building out dwarfism drug Voxzogo with five potential label expansions planned through 2031 as well as widening the eligible patient pool for the company’s clutch of enzyme therapies.
Over the summer, BioMarin’s new corporate strategy resulted in the company's decision to narrow its focus for hemophilia A gene therapy Roctavian and lay off about 7% of its global workforce, or 225 employees. The California-based drugmaker expects its full-year 2024 revenues to come in between $2.75 billion and $2.82 billion.