Roche pharmaceutical has announced that it is to continue production at its manufacturing plant in Clarecastle outside Ennis in Co Clare.
The company employs around 400 people in Clare, with over 300 permanent employees and 100 contractors.
The company's employment and payroll is worth an estimated €5m a week to the town of Ennis.
The company also employs 70 people at its commercial division at CityWest in Dublin.
Fears had been expressed about the future of the plant in the past week after the decision of the company to discontinue production of an anti-cholesterol drug Dalcetrapib on the Clarecastle site.
The company, whose headquarters is based in Basle in Switzerland, then began a review of its manufacturing to assess the impact of the decision to end production of the drug.
The company confirmed this evening that the plant at Roche is to stay in production following that assessment.
The plant formerly known as Syntex has been in Clarecastle since 1974.
Roche has a presence in 150 countries and employes 80,000 people worldwide.
