Cara Partners, the Co Cork-based natural medicines manufacturer, has said it will invest €130 million in its Little Island facility over the next four years, creating 60 new jobs on-site.
The company, part of the German Schwabe Group, has had a presence in east Cork since 1978 and bulk manufactures an active pharmaceutical ingredient (API) used in different products across the group’s range.
The €130 million investment, which is supported by IDA Ireland, will also fund the development of 15 additional API products, Cara Partners said in a statement on Monday, and the modernisation of its existing production line.
“Cara Partners has been part of the Schwabe Group for over 40 years and is an expert in the extraction of API from natural herbal material,” said Dr Frank Waimer, chief executive of Schwabe Group. “Following this investment, Cara Partners will be the global centre of excellence within the Schwabe Group and worldwide.”
Stephen Kenny, general manager at Cara Partners, said the investment will “secure the future” of the Little Island site for “decades.
Minister for Enterprise, Trade and Employment Peter Burke said the investment “affirms Ireland” as a “leading choice” for the pharmaceutical industry. “Regional investments such as this are most welcome and remain a priority for both Government and IDA Ireland.”
“I was delighted to recently visit Cara Partners, a member of the Schwabe Group to celebrate this significant investment and jobs announcement,” said EU Commissioner-designate Michael McGrath. “This is another welcome endorsement for Cork and indeed the wider southwest region as a prime location for companies like Cara Partners.”
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