Waterford pharmaceutical firm EirGen Pharma has signed a deal that will allow it to tap into a $300 million (€212 million) market for two of its products in the US.
EirGen said yesterday that it would research and develop two products which American pharmaceutical firm Corepharma will exclusively sell in the US.
The arrangement was announced on the second day of the Government-led trade mission to the east coast of the US.
Two-year-old EirGen has 10 drugs in development, primarily relating to cancer care.
Three of the drugs, which it is developing for pharmaceutical companies in the US, Canada, South Africa, and the Middle East, are currently in clinical trials.
Another trade mission participant, west Cork financial firm Global Shares, has meanwhile signed a deal with Citigroup that should allow it to take on a body of administration business from the banking giant.
Global Shares will administer employee share schemes such as share options for a number of Citi clients.
Carine Schneider, chief executive officer of Global Shares, said it was impossible to put a dollar value on the non-exclusive arrangement, but she hoped anywhere between 50 to 150 clients of Citi may ultimately decide to use its fund management services, which will operate out of its Clonakilty offices.
Donegal's Mantis Cranes was also in the spotlight of the Enterprise Ireland-backed mission yesterday when it signed a deal with a US firm to distribute its self-erecting cranes in the American market.
Celtic Cranes, owned by Smith Bros Concrete, is based in New York State, will sell the cranes for upward of $150,000 each or rent them from $1,400 a week.
