07/07/2009

€11M Investment At Cork Plant Announced

The Tánaiste has announced pharmaceutical company Pfizer is to invest over €11 million in the establishment of an R&D facility in Cork.

Pfizer, one of the world’s largest research-based biomedical and pharmaceutical companies will establish an R&D Kilo Technology Laboratory at its Ringaskiddy site in Cork.

Mary Coughlan said the project has been launched with the support of Government through IDA Ireland. The new laboratory will be a dedicated R&D facility within the

Process Development Centre (PDC) at the site and will research, develop and create new manufacturing technology for Pfizer’s facilities around the world.

The new state-of-the-art development facility will incorporate an early stage laboratory and is currently under construction.

Making the announcement the Tánaiste said: "This is a highly strategic project for the pharmaceutical industry and will significantly enhance Ireland's image as a location for innovative R&D.

"In addition, as it involves the co-location of substantial R&D and manufacturing it will be a leading example to other global companies of what can be achieved in Ireland.

"This investment is excellent news for the Cork site."

This year Pfizer is celebrating forty years in Ireland. Its Ringaskiddy site, employing over 550 people, consists of four API (bulk pharmaceutical) plants producing a range of material for many of Pfizer’s major products. Pfizer, which has eight

different operations in Ireland employing a total of 2,000 people.

Dr Paul Duffy, VP Pfizer Manufacturing Ireland/Singapore said: "Pfizer in Ireland has a proven track record in relation to process improvement and optimisation. The decision to invest in the Cork PDC was based on demonstrated technical competence with similar projects and the successful completion of a number of R&D programmes."

(DW/BMcC)

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