Pfizer invests $1 billion to double drug substance capacity in Ireland
BioPharmaChem Ireland (BPCI), the Ibec group that represents the biopharma and chemical sector in Ireland, accepted Pfizer's plans to develop a new manufacturing facility worth €1.2 billion, on its site premises at Grange Castle.
Key highlights:
- Pfizer is investing approx €1 billion into a new facility on its Grange Castle premises, with intention to double the capacity for biological drug substance manufacturing.
- The investment was welcomed by BPCI and Tánaiste Leo Varadkar TD, and represents the single largest investment from Pfizer in Ireland to date.
The investment will see the creation of between 400-500 new permanent jobs in the company, double the capacity for biological drug substance manufacturing and represent the single largest investment from Pfizer in Ireland to date.
Welcoming the announcement, BPCI Director, Matt Moran, said: “This is fantastic news for Pfizer and for the biopharma sector and broader economy as a whole. This critical 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.”
Pfizer first established operations in Ireland in Ringaskiddy 1969, growing and has continuously invested in its facilities over the past 53 years. They presently employ some 5,000 people in Ireland.
Tánaiste Leo Varadkar TD 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.’’
Commenting on Pfizer's ongoing commitment in Ireland, IDA Ireland Interim CEO, Mary Buckley, added: ‘’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.’’