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02/12/2003
US pharmaceutical company to invest £5m in new Carrick plant
A leading US pharmaceutical company is to invest over £5 million to set up a manufacturing facility in Carrickfergus, it was announced today.
The investment by Kiel Laboratories Inc is expected to create up to 100 jobs over the next three years.
The focus of the new manufacturing facility will be utilisation of the patent-pending 'Tannate Conversion Technology' (TCT™) to manufacture extended-release prescription products for the treatment of coughs, colds and allergies.
Commenting on the Invest NI backed investment, Enterprise Minister, Ian Pearson said: “Kiel Laboratories is a young, dynamic, fast growing company that has benefited from its focus on research and development. The transfer of this unique technology to Carrickfergus and the potential for future collaboration between Kiel Laboratories and our local universities makes this an exciting project for Northern Ireland.
“This investment is a boost to Carrickfergus and to Northern Ireland as a whole. It will strengthen our healthcare and biotechnology sector, a priority sector for Invest NI, and one that has huge potential for wealth creation."
Dr Jeffrey S. Kiel, Founder and President of Kiel Laboratories, Inc., added: “We’ve been considering establishing a European presence for a number of years, and the success of our TCT products has added to our need for additional manufacturing capacity.
“After exploring a number of locations, we chose Northern Ireland because of the ability to attract and retain high calibre employees, the potential for collaboration with the local universities, the very favorable pharmaceutical regulatory environment in the UK, and the support available from Invest NI."
The Northern Ireland company will trade under the name of Kiel Pharma Ltd as a wholly owned subsidiary of Kiel Laboratories Inc., which is based in Georgia in the US.
(MB)
The investment by Kiel Laboratories Inc is expected to create up to 100 jobs over the next three years.
The focus of the new manufacturing facility will be utilisation of the patent-pending 'Tannate Conversion Technology' (TCT™) to manufacture extended-release prescription products for the treatment of coughs, colds and allergies.
Commenting on the Invest NI backed investment, Enterprise Minister, Ian Pearson said: “Kiel Laboratories is a young, dynamic, fast growing company that has benefited from its focus on research and development. The transfer of this unique technology to Carrickfergus and the potential for future collaboration between Kiel Laboratories and our local universities makes this an exciting project for Northern Ireland.
“This investment is a boost to Carrickfergus and to Northern Ireland as a whole. It will strengthen our healthcare and biotechnology sector, a priority sector for Invest NI, and one that has huge potential for wealth creation."
Dr Jeffrey S. Kiel, Founder and President of Kiel Laboratories, Inc., added: “We’ve been considering establishing a European presence for a number of years, and the success of our TCT products has added to our need for additional manufacturing capacity.
“After exploring a number of locations, we chose Northern Ireland because of the ability to attract and retain high calibre employees, the potential for collaboration with the local universities, the very favorable pharmaceutical regulatory environment in the UK, and the support available from Invest NI."
The Northern Ireland company will trade under the name of Kiel Pharma Ltd as a wholly owned subsidiary of Kiel Laboratories Inc., which is based in Georgia in the US.
(MB)
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