French pharmaceutical company Sanofi is to invest €44 million in the Genzyme biotechnology campus in Co Waterford.
The investment will add Sanofi’s insulin brand Lantus to the list of products made on the Waterford site.
Genzyme is a wholly-owned subsidiary of Sanofi, which employs over 500 people in the region.
The €44m investment is supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
In October 2011 Sanofi announced a €150m investment for Genzyme Waterford.
"Since acquiring Genzyme almost two years ago, we have been continually impressed with the record of achievement at the Waterford site and with the positive and proactive approach taken by the site leadership,” said Dr Martin Siewert, Vice President, Industrial Affairs of Pharmaceutical Injectables at Sanofi.
“The entire Waterford team has shown great flexibility, professionalism and commitment, all valuable traits in a world-class manufacturing environment."
Managing Director of Genzyme Ireland, Dominic Carolan, said the investment represented “a further endorsement” for the Waterford operation.
The operation already produces a range of products focused on cholesterol management and the treating of rare genetic diseases and kidney disease.