Aerie Pharmaceuticals Enters into Lease Agreement for New Manufacturing Plant in Ireland
Source: Aerie Pharmaceuticals
Aerie Pharmaceuticals announced that it has entered into a lease agreement with the Industrial Development Agency (IDA) of Ireland for a new manufacturing plant in Athlone, Ireland. This will be Aerie’s first manufacturing plant, expected to produce commercial supplies of Aerie’s current product candidates, Rhopressa and Roclatan, according to a company news release.
The Athlone building shell, which was recently constructed by the IDA, includes approximately 30,000-square-feet of interior floor space. The IDA has provided employment and capital investment incentives to Aerie as part of the overall arrangement. Aerie has commenced equipment ordering and will begin internal construction immediately. Estimated project-wide construction and equipment costs are expected to total approximately $25 million (excluding ongoing labor-related and lease expenses), of which approximately $16 million is expected to be spent in 2017. If approved, commercial product supply of Rhopressa from the plant is expected to be available by 2020.
“We have now achieved another milestone in executing our stated long-term strategy. As we prepare for commercialization, it is increasingly important that we ensure greater independence regarding our finished product sourcing while also meaningfully reducing our future product costs. We are grateful to our IDA colleagues in Ireland for their cooperation throughout this process and the incentives that we have been granted,” said Vicente Anido, Jr., PhD, Chief Executive Officer and Chairman at Aerie.
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