Pharmaceutical firm Servier is to invest a combined €184m to set up a new facility at Belview in Co Kilkenny and to expand its existing operation in Arklow in Co Wicklow.
The French firm, with the support of IDA Ireland, is to spend €115m on creating 155 new jobs in Kilkenny over the next seven years, and €69m on its expansion in Arklow, which will create 112 new jobs. The Arklow plant currently employs 206 people and was established there in 1985.
Servier is a research based company that focuses on the development of cardiovascular, cancer, diabetes and central nervous system drugs. Two of the drugs made in Arklow, the diabetes drug Diamacron and the hypertension drug Coversyl, rank in the top five in Europe in their class.
Servier will be the first company for the IDA Belview site which is located on the border of Kilkenny and Waterford. It will make half the ingredients for four products used in the treatment of osteoporosis, depression, angina and hypertension and will supply both the Arklow facility and the parent company with its products.
'Servier is a global company with an excellent reputation for its commitment to research and development, reinvesting 25% of its annual turnover in R&D,' commented the Minister for Enterprise, Trade and Employment Micheal Martin.
'Belview is a key strategic site developed by IDA Ireland to attract a cluster of cutting-edge multinational pharmaceutical companies to the South East and today's news is a very promising beginning. Servier prides itself on the design and quality of its buildings around the world, as is evidenced by the Arklow plant, and with a company the calibre of Servier as Belview's flagship occupant, further high-value investment will undoubtedly follow,' he added.
The French company said its decision to choose Ireland was made after careful appraisal of all its options for this investment.
'We are very pleased with the standard and performance of our facility here and the encouragement shown to us by the Irish Government and its unwavering support of innovation. We know that we can find the necessary life sciences capabilities and skills we need in Ireland', the company added.
Pharmachemical Ireland, the IBEC group representing the pharmaceutical and chemicals industry, welcomed the announcement.
Pharmachemical Ireland Director Matt Moran warned that although companies are attracted to Ireland because of the low tax regime, the supply of highly skilled and motivated staff is vital if we are to secure existing investment and attract new companies.
He added that the focus on promoting science at both primary and secondary schools must continue and the sector is the largest contributor of corporation tax paying over €1.1 billion, or 20%, of all corporation tax receipts.
