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Eli Lilly plans to invest EUR 330 million ($443.2 million) at its Kinsale location in Ireland to create a new biopharmaceutical commercialization and manufacturing facility.
Eli Lilly plans to invest EUR 330 million ($443.2 million) at its Kinsale location in Ireland to create a new biopharmaceutical commercialization and manufacturing facility. The investment will lead to 200 new jobs, as well as an additional 300 construction roles during the building process.
The facility is planned to be approximately 24,000 ft2 and will produce treatments for illnesses such as cancer and diabetes. In a press release, Lilly’s senior vice-president of global API and dry product manufacturing, Paul Ahern said, “This investment is part of Lilly’s planned growth strategy and proof of our confidence in Lilly’s pipeline of new products, many of which are derived from biotechnology.”
Eli Lilly first established its presence in Kinsale in 1981 and the facility makes APIs for several of the company’s products. The latest announcement marks the second significant investment that the company has made at the site in recent years. In 2006, the company committed to invest EUR 300 million in a biopharmaceutical and new-product commercialization facility. The new facility came on line in 2010, but is still undergoing start-up activities. It is expected to manufacture commercial products in late 2013.
Ireland’s investment agency, IDA Ireland, worked closely with Lilly to attract the investment. According to Ireland’s Minister for Jobs, Enterprise, and Innovation, Richard Bruton, the government has recently outlined a range of measures that will be taken in 2012 to target high-end manufacturing and the health and life science sectors for growth and job creation.
Several other pharmaceutical companies have invested in Ireland recently. Most recently, Abbott Laboratories announced an EUR 85-million ($114.2 million) investment at its manufacturing facility in Sligo at the beginning of February 2012. In September 2011, Pfizer and Merck & Co. invested EUR 145 million ($194.8 million) and EUR 100 million ($134.3 million) in Irish pharmaceutical operations, respectively.