Regeneron Pharmaceuticals, which employs 300 people at its international production site in Limerick, is expanding its workforce by a further 200 people.
The people already employed at the Raheen site are involved in testing a number of drug products before full regulatory authority is secured, but it is on schedule to be in full production next year.
Today, Regeneron announced it is taking on an extra 200 employees over the next two years, as part of a further €300m investment at its plant in Limerick, its only production facility outside the US.
The company researches and produces cholesterol drugs as well as drugs for a variety of eye diseases, which will be exported globally from the Limerick plant.
Regeneron is one of the biggest biopharmaceutical companies in the US and was drawn to Limerick because of the availability of a specially trained workforce and the possibility of collaboration and research with colleges in the region.
The company also joins a cluster of other pharmaceutical and biopharmaceutical companies in the region.
The jobs announcement comes as the Government launches its Action Plan for Jobs for the Mid West, which aims to generate a further 23,000 jobs by 2020.
Taoiseach Enda Kenny said: "I'm delighted to welcome this exciting additional $350m investment by Regeneron with 200 additional jobs for Limerick on the same day that the Government is publishing its Mid West Action Plan for Jobs.
"We are intent on keeping this recovery going by keeping Ireland competitive and by attracting more investment and jobs into the regions. Regeneron's decision to expand so significantly is testament to the talent pool and attractive business environment available to companies in Ireland," Mr Kenny said.
Speaking at the announcement, Minister for Finance Michael Noonan said that this “is further evidence that the Government's strategy to grow the economy is working and the economic recovery is spreading to regions throughout the country".
President and CEO of Regeneron Leonard Schleifer said: "The Limerick facility will play an essential role in ensuring Regeneron delivers on our mission to consistently and repeatedly bring new medicines to patients with serious diseases."
Regeneron established its facility at the former Dell factory in Raheen last year.
Senior Vice President Dan Van Plew said: "The entire community has gone out of its way to welcome us and help us create the momentum we need to build this site.
"Our people, your countrymen, have done something remarkable. In less than two years we have brought a dormant building back to life and are well on our way to building a complex, high-quality facility in industry-leading time.
"Our hundreds of current employees, contractors and trades people are top notch. The decision to create 200 new full-time roles and invest an additional $350 million in Limerick was an easy one to make because of our hiring and trades experiences over the last two years," Mr Van Plew said.
