Schering Plough Invests $30 Million in Scottish Facility
NEWHOUSE, Scotland, Feb. 6, 2009--Global life sciences firm, Schering-Plough, announced last night an investment in early drug discovery technologies supporting its global R&D activities. The company is investing a total of $60 million across three of its worldwide locations in Scotland, US and the Netherlands. Half of the investment is to be spent at its Newhouse facility in Scotland.
Making the announcement at the Scottish Enterprise Life Sciences Annual Dinner, John Swinney, Cabinet Secretary for Finance and Sustainable Growth, said: “Schering-Plough’s decision to make this substantial investment in its Newhouse facility is a welcome boost for Scotland’s life science industry. It underlines the high quality of the company’s Scottish workforce and shows there are reasons to be optimistic about prospects for Scotland’s economy.
“There is no room for complacency in the current climate, which is why our actions in Government – through our economic recovery plan - are focused on ensuring Scotland is positioned to take early advantage of any recovery.”
Ismail Kola, senior vice president, Discovery Research, Schering-Plough Research Institute, and chief scientific officer added. “With the Organon Biosciences acquisition in November 2007, Schering-Plough is creating a stronger combined company with increased R&D capabilities. The company has a long-term commitment to its research activities in Scotland and recognizes the important contribution our colleagues make. Our Newhouse facility is now our core site for research in central nervous system (CNS) with a focus on analgesia and psychiatry. At Newhouse we also do research in cardiovascular and metabolic diseases.”
The investment by Schering Plough has been supported with a Scottish Government offer of a ?.1 million RSA grant while Scottish Enterprise and Scottish Development International are continuing to work with the company to maximise opportunities at its Newhouse facility.
Jack Perry, chief executive of Scottish Enterprise added: “This investment is excellent news for both Scotland and our fast growing life sciences sector, particularly within the current economic environment.
“Life Sciences has been one of Scotland’s great success stories in recent years and Schering Plough’s commitment today is further testament to our ever growing reputation and capabilities in this sector”
The investment by Schering Plough was one of many successes highlighted at last night’s Scottish Enterprise Life Sciences Annual Dinner, attended by more than 700 representatives from the life sciences community in Scotland and worldwide.
At the event, the winners of this year’s Scottish Enterprise Life Sciences Awards were also announced, which aim to honour the groundbreaking achievements of individuals and companies within Scotland’s life sciences communities.
Glasgow based firm Bio Outsource picked up the award for Most Promising New Life Sciences company while Edinburgh based Charles River was won the Leading Contribution to Life Sciences in Scotland by a company.
Professor Sir Philip Cohen picked up the Leading Contribution to Life Sciences in Scotland by an individual for his role as Director of the Medical Research Council Protein Phosphorylation Unit and Royal Society Research Professor at the University of Dundee. Dr Alastair Cozens of NHS Grampian picked up the Scottish Health Innovations Ltd (SHIL) Award for Best Innovation originating from NHS Scotland for iPAM which he developed in conjunction with Professor Bipinchandra Bhakta and Dr Martin Levesley of the University of Leeds.
For further information, please contact: Neil McInnes, Corporate Communications Manager Scottish Enterprise Tel: 0131 313 6196 / 07881 517712 Email: email@example.com
Posted: February 2009