Abbott has opened a new manufacturing facility in Kilkenny, Ireland for its diabetes care business.
First announced in August 2022, the 30,000-square metre facility will have the world’s highest production of sensors used in Abbott’s continuous glucose monitoring (CGM) devices, including the latest FreeStyle Libre 3 iteration.
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Abbott recently reported year over year sales of $10.6bn in its third quarter of 2024, reflecting sales growth of 4.9%, influenced in part by reported growth of 17.1% to its diabetes portfolio, with $1.6bn in CGM sales.
Employing more than 800 people, the Kilkenny facility forms part of the company’s €440m ($464m) investment in Ireland, which also includes a site expansion to its Donegal facility in which a further 200 jobs are being created.
The fully electric Kilkenny site is powered by six air-to-water heat pumps, has 600 solar panels on the roof, and features tanks for collecting rainwater for onsite use.
Abbott chairman and CEO Robert Ford commented: “This is our latest commitment to providing innovative care and supporting people with diabetes to live healthier lives.
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By GlobalData“The state-of-the-art Kilkenny facility will have the highest production of Libre sensors in the world to help meet the growing global demand for our world-leading FreeStyle Libre portfolio.”
Coinciding with the new site opening, Abbott also announced a new $100,000 grant to The Ireland Funds. The grant will support three 2024 graduates from local DEIS (Delivering Equality of Opportunity in Schools) schools who are pursuing their education in STEM (Science, Technology, Engineering and Maths) subjects – a move which aligns with Abbott’s aim to support more young people as they advance into STEM careers.
According to IDA Ireland, over 300 medtech companies are now operating in the country and medtech exports from Ireland are worth more than €13bn ($14bn) a year. West Pharmaceutical Services recently announced plans to add a new 165,000-square foot building to its Dublin manufacturing facility which will see the creation of 330 new roles. Earlier this month, Freudenberg Medical opened a 16,500-square foot expansion to its facility in Carrick-on-Shannon, Co. Leitrim, announcing the creation of 250 new roles.
Outside of Ireland, in 2023, Abbott announced plans for a further investment of around $107m to expand its Oxford, UK facility and create up to 400 new roles to meet the growing demand for the FreeStyle Libre flash system.
The International Diabetes Federation (IDF) projects that the number of people living with diabetes will rise to 643 million by 2030.
According to a recent market model by GlobalData, the global CGM device market will see a CAGR of 3.6% over the next decade, with growth driven by factors including the introduction of over-the-counter (OTC) CGM devices.
