Pfizer invests €129 million in Irish biotech facility

Pfizer Inc., the world's biggest drugmaker, is to invest €190 million establishing a new biotech plant in Ireland for the production of experimental medicines, it said.

The facility, which will create around 100 permanent jobs over three years, will develop and produce small-scale quantities of products for Phase II and III clinical trials. Some 500 people will also be employed during construction.

It is the first time Pfizer has placed such internal biopharmaceutical clinical development outside the US.

The facility at Shanbally in County Cork will be located on a site adjacent to Pfizer's existing operation in Ringaskiddy and will be completed by the end of next year.

Nat Ricciardi of Pfizer Global Manufacturing said the investment reflected the US group's determination to become a leader in biotech medicine, which is a growing focus for many drug companies worldwide.