PHARMA GIANT PFIZER today announced it is to build a new facility in Dublin, investing €1.2 billion and creating hundreds of jobs in the process.

The new facility will be built on the site premises at Grange Castle in west Dublin and will double the capacity for biological drug substance manufacturing.

The investment will see the creation of between 400-500 new permanent jobs in the company and represents the single largest investment from Pfizer in Ireland to date.

Pfizer currently employs around 5,000 people in Ireland.

BioPharmaChem Ireland (BPCI), the Ibec group that represents the biopharma and chemical sector in Ireland, has welcomed the announcement 

Its director Matt Moran said the industry exports more than €100 billion worth of goods annually and employs over 42,000 directly and responsible for the same number of employees again indirectly.

“To underpin the sector’s continued growth and capacity to compete internationally for resources and talent, it is imperative that the industry continues to invest in these kind of advanced manufacturing projects. It is great to see Pfizer endorse the Irish business model, and BPCI and the wider industry warmly welcome this investment,” Moran added.

Speaking about the investment Tánaiste Leo Varadkar said: ‘’The pharma sector is such an important part of the Irish economy and the commitment shown by Pfizer to further expand its business here is great news.

“The work undertaken at their facilities across Ireland saves and improves the lives of people all over the world.  I am very pleased that their presence in Dublin, and indeed in Ireland, continues to go from strength to strength.’’

IDA Ireland Interim CEO Mary Buckley said: ‘’Pfizer has had a presence in Ireland for over 50 years and this major additional investment, adding further drug substance capacity to its already substantial Irish operations and jobs, underscores the strategic importance of Ireland in Pfizer’s global operations. It is proof of the company’s future commitment to Ireland and testament to Ireland’s continued attractiveness as a location for investment.’’