Alzheimers Product Unit could mean huge boost for Drogheda- Cllr. Kevin Callan

Alzheimers Product Unit could mean huge boost for Drogheda- Cllr. Kevin Callan

Drogheda Borough Councillor, Kevin Callan has said that an opportunity exists to attempt to attract a foreign national company to County Louth and to Drogheda in particular and that he will be seeking the assistance of the Borough Council, the Economic Forum, the Chamber of Commerce and the Trades Council to open discussions to have the unit locate in Drogheda.

Councillor Callan, said that, “this is a huge potential investment opportunity for our town, I am raising it at the March meeting of the Borough Council and I will be in touch with the Chamber of Commerce, the Trades Council and the Economic Forum in the interim, we need to get moving in respect of this opportunity and any others that present themselves to get Drogheda moving and make it a competitive and relevant location for inward investment.

“Dr Pearse Lyons, originally a native of County Louth and creator of the Alltech Group in the United States is examining the possibility of a potential spin off brain disease unit that could be worth €500 million. Dr. Lyons, who has close links to the Muhammad Ali Foundation has his business based in Kentucky in the United States ,has hired professional advisors to approach major pharmaceutical companies and investors to examine a new product that could assist in alleviating alzheimer’s disease”.

Cllr Callan said that this investment would be a huge boost to Drogheda and is one of many examples of a case where we need to be coming together to attract foreign investment.

“We need a group consisting elected members led by the Mayor of Drogheda, members of the economic forum and the Chamber of Commerce and the Trades Council meet with these professional advisors to discuss Drogheda as a viable location, with a deep sea port, rail and road networks and with its proximity to Dublin. Drogheda also has a vast industrial estate which is mainly vacant and ready to go. This meeting must also include planning staff of the Borough Council and all other agencies such as the ESB involved.

Councillor Callan said it appeared that this product and the exploratory work being carried out by it could lead to a new business division.

“This could mean investment in Drogheda and expansion by the US based company into the European Union with Drogheda and Ireland being its base”.

The Alltech Group currently work in the area of nutrigenomics which is based on how foods and their mineral constituents affect genes and how that influences the effects of various diseases, the company currently has sales of €400million but this is due to double in the next three years