Japanese pharmaceutical company Takeda has confirmed that it is looking for a buyer for its biologics facility in Dunboyne, Co Meath.

The firm says the move comes following its acquisition of Shire last year, which meant that the production capacity at Dunboyne was no longer required.

The company said today that it plans to "divest the facility as a going concern, with no redundancies intended for the employees on site".

200 people are employed at the site.

Takeda said it had begun the process of securing a "suitable buyer" and that it was confident this would be successful.

It said "Our vision for the Dunboyne facility has not changed. Day-to-day operations at the facility will continue at pace as we complete commissioning and validation of the facility, ready the site for a buyer and prepare our team for the future delivery of products for patients."

Takeda also has operations in Baggot Street in Dublin, Bray, Citywest and Grange Castle.

Takeda is one of Meath's largest employers and local politicians and representatives have expressed concern about the future of the jobs at the Dunboyne plant.