Putting Ireland at the heart of its fast-growing diabetes business is a big win for the State. Photograph: BSIP/Universal Images Group via GettyAbbott Laboratories’ decision to choose Ireland for a landmark investment is important for reasons beyond the sheer scale of the €440 million expansion.
The decision to choose Kilkenny is in keeping with its history. Unlike many inward investors, it has eschewed the big city locations, choosing instead sites in places such as Cootehill in Co Cavan, Donegal, Sligo, Longford, and Clonmel in Co Tipperary for its manufacturing operations. For social and employment reasons, the regional diversification of good jobs is welcome.
Abbott has capitalised on the move to continuously monitored glucose, investing heavily in innovation to deliver what is now the market-leading product — Freestyle Libre. The third generation of this product — Freestyle Libre 3 — is what is destined for Kilkenny and the Irish plant is seen as critical to the geographic roll-out of the product, which is currently available only in 11 countries.
As of now, four million patients worldwide are using Abbott’s monitors, but with a potential market of about half a billion people and growing, it is easy to see the size of the opportunity for Abbott and its new Irish plant.
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