Multinational pharmaceutical giant GSK has announced a new €12m investment at its manufacturing plant outside Cork city in Currabinny.
GSK said that €9.5m will be spent on its Kilo Scale Facility, while the remainder will be used in its technical laboratory in Cork.
The new purpose built Kilo Scale Facility will allow the site to begin manufacturing highly specialised active ingredients for newer, targeted oncology drugs.
GSK employs 450 people at its Cork facility. It produces a range of drugs and medicines for diseases such as cancer, HIV and depression.
The global healthcare company employs over 1,800 staff across four locations in Ireland - Cork, Dublin, Waterford and Sligo.
Kevin O’Keefe, Head of Engineering at GSK Cork said the new facility represents an important new opportunity for the company in Cork.
Mr O'Keefe said the plant will expand the company's operating scale to allow it introduce new targeted medicines that require highly specialised manufacturing equipment.
"This investment opens up new potential for Cork to produce these in the future," he added.