A company based in County Mayo that produces all of the world's Botox has announced pre-tax profits of over $1.5 billion for 2022 following a surge in global demand for the product.
Allergen Pharmaceuticals Ireland UC, which is based in Westport, announced that sales worldwide sales increased by $1.25 billion in 2022 to a record $4.88 billion.
Overall company revenues have risen by $1.1 billion - or 25% - rising from $4.34 billion to $5.44 billion. while the number of employees increased by 127 to 1,337.
Opened in 1977, the Westport plant is parent company Abbvie's only Botox manufacturing facility in the world.
According to recently released accounts, the company's largest market is in the US, which accounts for 68% - or $3.25 billion - of the plant's global sales.
Europe, Africa, and the Middle East account for 14% of global sales at $742.2 million.
Revenues from the Asia Pacific region increased from $43 million to a whopping $567 million in 2022, while Latin American revenues also increased exponentially, jumping from $5.96 million to $154 million.
The business recorded operating profits of $2.27 billion in 2022, although net interest payments reduced the profits to $1.5 billion.
The Westport-based company posted post-tax profits of $1.32 billion after paying $190.72 in corporation tax.
The company paid a total of $109.28 million in staff costs last year, underlining its huge importance to the Westport area.
A total of 656 staff were employed in production, with a further 349 staff employed in quality. Meanwhile, four people were employed in administration and a further 328 people were employed under the heading "indirect".
The company's directors state that it has major capital projects in place to expand its production capability in the future.
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