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Brexit May Lead To New Pharmaceutical Logistics Network Requirement In Ireland

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Brexit May Lead To New Pharmaceutical Logistics Network Requirement In Ireland

Brexit May Lead To New Pharmaceutical Logistics Network Requirement In Ireland

Brexit May Lead To New Pharmaceutical Logistics Network Requirement In Ireland

Pat Gunne, CEO of listed Irish property group Green REIT told the Irish Independent that pharmaceutical companies based in Ireland who are currently shipping finished products to mainland Europe via the UK may, in the not too distant future be forced to ship directly from Ireland once the UK leaves the European Union trading bloc.

Unsurprisingly the majority of pharmaceutical production in Ireland is exported worldwide as Ireland is a base for nine of the ten biggest pharma firms in the industry.

 

“At the moment, we are exporting temporarily to the UK, where they’ve got more storage capacity, for onward delivery within the European network … they may have to develop some logistics and storage capacity within Ireland, and then bring that directly as a distribution solution for the rest of Europe.” – Pat Gunne, Green REIT CEO

 

While some corporate tenants had raised the potential issue with Mr Gunne in relation to its potential risk impact on the supply chain, it is understood to be too early to say if any impact will be felt until the Brexit process has fully begun.

 

Pharma Brexit Pharma CMC

 

As an investment vehicle with a portfolio of primarily commercial property heretofore as a result of the stellar return rates in Ireland which are some of the highest in the developed world, the organisation is uniquely positioned to spot emerging trends and business environmental factors which will impact the wider business landscape in Ireland and its trading partners. Discussions between Green REIT and with pharmaceutical businesses in the UK regarding possible Brexit moves to Ireland quietly continue apace.

 

“Nobody wants to be out there in the media making any comments,” he said.

“The level of traction has grown much quicker than we would have anticipated.”

 

Green REIT signed up Maple Funds Services as the sole tenant for the entirety its newly built office at 32 Molesworth Street in Dublin in December, with an annual rent of €1.67m, and it is also building three other new offices in the capital. Recently it acquired the Horizon Logistics Park beside Dublin Airport for €12.2m bringing its overall Horizon development site to 264 acres in size, with scope to develop over 2.5 million square feet of commercial property space on site.

 

 

DHL, and the Swiss logistics giant Kuehne & Nagel are already on site which is between an airport and a main motorway with port tunnel access. The disruption of logistics born out of the Brexit process has created a new opportunity to develop a logistics hub suited to the exacting needs of the pharmaceutical industry in a European Union without the United Kingdom.

 

For more information: Read Full Article


 

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2017-05-23T17:48:00+00:00

About the Author:

The PharmaCMC Journal editorial team is made up of a panel of experienced pharmaceutical engineers, scientists, procurement managers and content specialists. We focus on valuable content that solves the everyday challenges facing pharma professionals interested in sourcing pharmaceutical machines and equipment from peer recommended suppliers who meet the modern "Quality by Design" QbD and "Risk Based Design" requirements and specifications.