Pfizer has announced its biggest expansion investment in Ireland to date with plans to invest €1.2bn at its Grange Castle manufacturing site in Dublin.
The pharmaceutical giant will build on the existing site, doubling capacity for biological drug substance manufacturing and significantly expanding laboratory capacity as well as the installation of new technologies to support new medical innovations.
The company, which employs approximately 5,500 people in Ireland, expects to add 400-500 jobs with the expansion. Pfizer's total investment in Ireland to date exceeds $9bn.
The project is currently in the preliminary design phase, with construction expected to commence in 2024 and the new facility due for completion in 2027.
Pfizer said the investment would ensure that it has capacity for licensed and pipeline products in oncology, rare disease, inflammation & immunology and internal medicines.
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Grange Castle as well as Pfizer’s other manufacturing sites in Newbridge, Co. Kildare and Ringaskiddy, Co. Cork manufacture medicines and vaccines in the areas of arthritis, inflammation, cancer, anti-infectives, haemophilia, pain and stroke.
This announcement follows a €40m investment in the site last year when the Grange Castle facility was brought onto the global Pfizer Covid-19 manufacturing network. Pfizer celebrated its 50th anniversary in Ireland in 2019.
"We are very pleased about today’s announcement, as it significantly strengthens our operations in Ireland, where we have three high-performing and strategic manufacturing sites," said Mike McDermott, chief global supply officer and executive vice president at Pfizer.
"Grange Castle has played a critical role in our global Covid-19 vaccine network, and this investment for non-Covid licensed and pipeline products, will help to further expand the site’s broad and robust capabilities.
"As this investment demonstrates, we continue to invest in our global manufacturing infrastructure to strive to bring much-needed medicines and vaccines to patients, around the world, and to deliver the next scientific breakthroughs.”
Commenting on the announcement, Taoiseach Micheál Martin said it was "a considerable vote of confidence in the talent of our workforce, and our economy.
"Pfizer has played an instrumental role during the pandemic. It is pleasing to see just how much scientific progress has been made over the last number of years, and I have no doubt that Ireland will continue to be at the forefront of scientific innovation."
Tánaiste Leo Varadkar said the pharma sector is an important part of the economy in welcoming what he described as "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," he added.
Mary Buckley, interim CEO of IDA Ireland, said: "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."
Pfizer recorded turnover of $81.3bn in 2021, including $36.8bn from its Covid-19 vaccine, with reported net income of $22bn and a $8.7bn cash dividend.
Photo: (l-r) Micheál Martin and Mike McDermott. (Pic: Naoise Culhane)
