Pharmaceutical giant Eli Lilly is to invest up to €400m setting up a new manufacturing facility at its existing plant in Kinsale in Co Cork.
The investment, which is supported by IDA Ireland, will see the creation of up to 200 jobs over the next five years.
The new biopharmaceuticals facility will produce medicines to treat illnesses including cancer, diabetes and Alzheimer's disease. Eli Lilly has had an operation in Kinsale since 1981 and currently employs over 400 people there.
The Kinsale facility makes the active ingredients for a number of the company's most important drugs, including Zyprexa for the treatment of schizophrenia and Evista for the prevention of osterporosis.
'Today's announcement further strengthens Ireland's - and in particular Cork's - position as the number one location of choice for major biopharmaceutical activity outside the US,' commented the Minister for Enterprise, Trade and Employment Micheal Martin.
He added that it was a major achievement for IDA Ireland to have won this investment against intense global competition.
