The Wyeth Corporation is to establish a new R&D laboratory at its Grange Castle campus in Dublin, Minister for Enterprise, Trade and Employment Micheál Martin announced today.
Wyeth said it is investing a further €24 million in the creation of additional dedicated R&D and process development facilities.
Mr Martin said the expansion is supported by IDA Ireland and the investment will add 6,000 square metres of laboratory space in addition to the 2,500 square metres already in operation.
The R&D facility currently employs 70 people, with a high percentage of the staff having PhD and other advanced degrees. This number will increase to 80 during 2007.
Mr Martin said "This is further excellent news for the Grange Castle campus. It will give its development group a considerable increase in its capacity and will represent a key biologics development capability in Wyeth worldwide.
"The location of this strategic R&D investment in Ireland is a testament to the success of the initial R&D mandate at Grange Castle, the commitment of the management and existing workforce at the facility, and the continuous availability of the highest calibre of qualified people in Ireland."
Michael Kamarck, senior vice president, Wyeth Biotech added that in addition to the 10 new development scientists, Wyeth will be recruiting a further 70 staff this year bringing its direct employment at Grange Castle to 1,350.
The Grange Castle campus is a biopharmaceutical development and manufacturing facility and is one of the largest biopharmaceutical plants in the world. It commenced production in 2005 and currently employs 1,270 people.