A US-based generic drug manufacturer is expected to create around 280 jobs after buying a facility in Cashel, Co Tipperary.
Amneal expects its factory to be fully up and running in the next few years.
It said it will be using Co Tipperary as its base for long-term growth into Europe.
The Cashel site will be dedicated to R&D and production of metered dose and dry powder inhalers.
Johnson and Johnson closed its 200,000 square foot facility in Cashel in 2011 and sold it to a Singapore-based investment firm.
Amneal bought the factory with assistance from IDA Ireland.
The company, which was set up in 2002, is the 7th largest US generics drugs supplier.
The investment is being supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
Amneal has its headquarters in Bridgewater, New Jersey.