Biggest US pharmacy firm rejected city

CVS Caremark - ranked 18th on the Fortune 500 for 2012 and turning over 123 billion dollars in annual revenue - was one of seven potential inward investors that visited Londonderry in 2011/12.

However, Londonderry was rejected by the pharmacy giant and it chose to set up in Belfast instead.

The consortium behind the Global Pharmaceutical Centre of Excellence (GPCE) was also one of the seven investors which visited the city but subsequently chose not to locate in Northern Ireland.

At one point Londonderry was considered the front-runner for GPCE’s 4,800 jobs-boosting life science centre.

In June 2011 Invest NI’s Acting Director of Life Sciences and Creative, Stephen Wightman, privately advised Enterprise Minister Arlene Foster and her Special Advisor Andrew Crawford that: “Londonderry is being considered as a potential location. GPCE’s overall aim is to recruit 4,800 staff over the next three years for a new 1million square feet facility.”

What GPCE proposed was described as “the largest contract Research and Development centre in the world.”

Invest NI revealed that one of the seven investors did eventually set up shop here.

That was One Stop Data which said it would be developing a project in the Skeoge Industrial Estate that would promote 25 local jobs.

The regional state investment agency said it could not provide further details of the other four visitors as they had not yet committed to locate in Northern Ireland and the information was thus “commercially sensitive.”

SDLP MLA Colum Eastwood had asked The Investment Minister to detail the seven potential investors who visited Londonderry in 2011/12.

The Minister refused to provide the details but the Sentinel has learned that CVS Caremark, GPCE and One Stop Data were amongst the seven.

In a Freedom of Information release to the paper, Invest NI stated: “One Stop Data visited Derry District Council Area (DCA) and subsequently announced an inward investment project that will promote 25 jobs located at Skeoge Industrial Estate;

“CVS Caremark visited Derry DCA and subsequently located in Belfast DCA; and

“The Global Pharmaceutical Centre of Excellence visited Derry DCA but subsequently choose not to locate in Northern Ireland.”

Invest NI explained: “It is important to note that Invest NI does not determine the location of an inward investment project. Ultimately this is a decision taken by the investor.

“As noted by the Independent Review of Economic Policy, it is essential to allow companies the scope to locate where they consider that they will be able to operate most profitably.”