The new entity will employ over 30 people
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Ariel view of Pfizer's Grange Castle facility in Clondalkin, Co, Dublin. The Pfizer site is now expanding following a US$200m investment by Pfizer
Ireland’s Taoiseach Enda Kenny TD this morning announced that world-leading biopharma company Pfizer is to inject $200m, or €145m, into its Dublin biotech manufacturing facility in Grange Castle – one of the largest biotech manufacturing sites in the world – creating up to 400 jobs during the peak of the construction phase.
The investment will enable Pfizer to introduce two new processing suites to the site and expand current production and product testing capabilities.
Pfizer's Grange Castle facility in Clondalkin, Co Dublin, currently produces two of the pharama giant's blockbuster medicines - Enbrel and Prevenar 13.
The Grange Castle facility is strategically important to Pfizer globally. Since opening in 2005, it has evolved into a highly specialised site for manufacturing, testing and developing medicines for patients around the world.
The site currently employs about 1,100 full-time staff.
Making today's announcement, Taoiseach Enda Kenny said it was very welcome news.
"Pfizer has made a tremendous contribution to Ireland's life sciences industry since it first established here in 1969 and this investment is a further demonstration of the company's continuous commitment to Ireland."
Frank D'Amelio, executive vice-president and CFO of Pfizer Inc., also gave a strong vote of confidence in Ireland's continued attractiveness to attract FDI, with its low corporation tax rate and highly skilled talent pool.
D'Amelio pointed to how with pharmaceutical and chemical products accounting for over 50pc of Irish exports and a long history in pharmaceutical excellence, Ireland is a prime location for this major investment.
"The Grange Castle project is a strategic initiative that will allow us to further align and strengthen our manufacturing and supply network in an environment that is continually focused on quality, flexibility and application," said D'Amelio.
IDA Ireland CEO Barry O'Leary said the new investment from Pfizer will give a welcome boost to Ireland's life sciences sector.
"This investment is a vote of confidence in Ireland's attractiveness as a location for bio- pharmaceutical manufacturing. This strategic development by Pfizer coupled with the availability of world-class research and training facilities in the National Institute for Bioprocessing and Training (NIBRT) and the availability of highly skilled staff positions Ireland as a leading global location for development and manufacturing of biopharmaceuticals."
Pfizer itself has a rich heritage of innovation and expression spanning 40 years since it first came to Ireland.
The business has circa 4,300 colleagues across eight locations based in Cork, Dublin, Kildare and Limerick.
Dr Paul Duffy, vice-president, External Supply, Pfizer Global Supply, added how Pfizer has a long record of manufacturing medicines in Ireland.
"This investment will allow us help meet the needs of patients throughout the world by introducing new technologies and capabilities at Grange Castle, where we produce highly complex vaccines and biologic products for patients around the world," said Duffy.