11 July 2013

Pfizer to invest $130 million in Ireland

11 July 2013 – Pfizer today announces that $130 million is being invested in two of its Irish manufacturing sites. $100 million is being invested in the Grange Castle site in Dublin and $30 million is being invested in the Ringaskiddy site in Cork. The investments, which are supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland, will enable the sites to expand their capacity and begin producing more advanced, complex therapies to deal with some of the most devastating and difficult to cure diseases. 

Welcoming the announcement Minister for Jobs, Enterprise and Innovation, Richard Bruton said: “Today’s announcement that Pfizer is to invest $130 million is confirmation that we are taking the right steps to ensure that Ireland is a key location for companies like Pfizer to expand and grow their business. I am determined to ensure that we build on such success and provide the opportunities for further growth in this sector and create the jobs we so badly need. Pharmaceuticals and Life sciences generally is a hugely important sector for the Irish economy and the Government’s Action Plan for Jobs includes a series of measures to sustain and grow this sector.” 

Welcoming the announcement, Barry O’Leary, IDA CEO said: “Over the last 45 years, Pfizer has continued to innovate and transform its products to cater to the changing demands of its customers. The Ringaskiddy site was Pfizer’s first manufacturing facility in Ireland almost 45 years ago – it is fantastic to see the work at that site evolve into high-tech manufacturing. “Since Pfizer first set up in Ireland in the 1970s, it has invested more than $7 billion in developing the skills, scale and capability necessary to manufacture some of its leading medicines for global export from Ireland.’’ 

Dr Paul Duffy, Vice President, Pfizer said: “We are seeing the benefits of the investments we’ve been making in our innovative core, as evidenced by recent key launches of medicines for stroke prevention, rheumatoid arthritis and cancer, as well as significant progress within our mid-to-late stage product pipeline. There is opportunity for Pfizer’s Irish sites to attract the development of new medicines, while also continuing to manufacture existing, important medicines. Our Irish operations are significant and we have excellent colleagues across our sites, dedicated to the highest standards of manufacturing quality and excellence. This additional scale and capability arising from these investments ensure both sites are well-placed for the future within the Pfizer global supply network.”

The $30 million investment in Ringaskiddy is to develop specialist new capability to manufacture some of Pfizer’s newest medicines in cancer and other future pipeline medicines. The $100M investment in Grange Castle is to create additional manufacturing capacity by expanding the unit that produces protein drug substance using mammalian cell culture biotechnology. This unit makes drug substance for Pfizer’s biologic rheumatoid arthritis treatment and a new production line will be established that will increase capacity and thereby double productivity. Preparation is underway to allow construction to commence with approximately 140 construction jobs over the next year with a peak of 250 jobs. The facility will be operational in 2015, when the first process validation batches will be made.

Pfizer employs approximately 3,200 people at six sites in Ireland across manufacturing, shared services, treasury and commercial operations. Pfizer has invested $7 billion in operations in Ireland since opening the first site in 1969 and in 2011 announced a $200 million investment in the Grange Castle site to develop a new suite to expand the Irish manufacturing process for an invasive pneumococcal vaccine. 

Source: IDA Ireland