Jazz Pharmaceuticals is investing €50 million on a new manufacturing plant outside Athlone, Co Roscommon, that will create 50 high-skilled full-time jobs when it is completed by 2016.
The plant, on a 17-acre site at Monksland, will be the first to be built by Jazz Pharmaceuticals, a Nasdaq-listed company which specialises in niche areas of unmet medical need.
'Milestone'
"Today marks a milestone for Jazz Pharmaceuticals as we break ground in Ireland and begin, for the first time, construction on a manufacturing and development facility," said Jazz chairman and chief executive Bruce Cozadd. "This investment not only strengthens our international manufacturing capabilities, but importantly represents our commitment to expanding our presence in Ireland."
Jazz, originally a US company, relocated its domicile to Ireland in 2102 as part of a deal that saw it acquire Azur Pharma – the specialty drug development group founded by former Elan executive Seamus Mulligan – in an all-stock deal that valued the Irish business at around $500 million.
Mr Cozadd said the location was attractive because of the rail and road infrastructure, skills pool, land availability and because “the pharmaceutical industry is well established in this area”.
Taoiseach Enda Kenny described the announcement as a vote of confidence in the economy and Government policy.
“This is a great boost for the local area and the 160 jobs being created in the construction phase will provide an opportunity for some of those people who lost jobs in this sector in recent years,” Mr Kenny said.
