THE WORLD'S largest pharmaceutical company, Pfizer, yesterday confirmed the creation of 100 full-time jobs in Cork over three years at a new research and development operation.
Pfizer is to invest €190 million, with the support of IDA Ireland, in the establishment of a biologics facility at Shanbally in Ring-askiddy. The new plant will be built on a 30-acre site adjacent to Pfizer's existing facility in Ring-askiddy, and will be running by the end of next year.
The Shanbally plant will develop new types of medicines called biologics, which can be used in the treatment of cancer and diabetes. It is the first time that Pfizer has placed such a development outside the United States.
Welcoming the announcement yesterday, Minister for Enterprise, Trade and Employment Micheál Martin said Pfizer continued to make a tremendous contribution to Ireland's life sciences industry.
"Many countries are pursuing similar investments so we are very happy these jobs will be created in Ringaskiddy," said Mr Martin.
"They are long-term jobs and also in terms of level and scale of the investment, it is very significant. This is a strategically important development for Pfizer," he said. Up to 500 workers will build the plant.
Mr Martin congratulated the management and workforce at Pfizer's existing Irish operations for their continued success.
Nat Ricciardi of Pfizer global manufacturing said the investment reflected the US group's determination to become a leader in the biotech industry, which is a growing focus for many drug companies worldwide. "Our aim is to gain access to the best science inside and outside our walls, and the new Shanbally facility will ensure that we can produce the product for clinical trials which could ultimately impact the lives of millions of patients," he said.
Biologics or biotherapeutics are specialised large-molecule medicines based on proteins, peptides and antibodies that primarily come from molecular biology developments.
They must be manufactured in highly specialised and sophisticated processing plants.
The new plant will help develop potential therapies for cancer, chronic pain, diabetes and auto-immune diseases.
Pfizer employs roughly 2,300 people in Ireland at sites in Cork and Dublin.
It was among the first of the multinationals to set up in this country when it opened its main Ringaskiddy plant in Cork in 1972.
