Pharmaceutical giant Pfizer has announced a €300m capital investment plan for its Irish operations with the purpose of supporting the further development of existing manufacturing in its Newbridge, Grange Castle and Ringaskiddy sites.

The investments will see approximately 300 new jobs created within the next three years, bringing Pfizer employment throughout its Irish sites at over 4,000.

Pfizer vice-president of global supply Paul Duffy said the investments would see some facilities upgraded and enhanced, manufacturing with laboratory capacity increased, “and the addition of new technologies to ensure Pfizer is ready to support the next wave of medical innovations coming through our development pipeline”.

“This is a very important development,” said Mr Duffy, “as it expands Pfizer’s role in Ireland from the manufacture of already approved medicines into the support of an earlier phase of new medicine development.

“It is particularly exciting that our Ringaskiddy site has been chosen as the location to manufacture investigational compounds for our clinical trials globally and we look forward to seeing that new facility become operational.”

Paul Reid, Country Manager, Pfizer Healthcare Ireland, welcoming the announcement said: “Our purpose is to discover breakthrough medicines that change patients’ lives and these new positions are key roles within the organisation and play an important function in the manufacturing and delivery of medicines to patients worldwide. We are currently focused on our COVID-19 efforts, including our vaccine development program. Pfizer is also significantly investing in other innovations across healthcare, such as gene therapy and complex biologics targeting some of the most debilitating medical conditions.”

An Taoiseach Micheál Martin welcomed the major announcement. “This significant jobs and investment announcement by Pfizer is a further vote of confidence in the skills and talent of Irish people and provides a very welcome boost to the economy. Pfizer’s footprint in Ireland was first established in Ringaskiddy in Cork in 1969, marking the beginning of a new era of pharmaceutical investment in Ireland. Pfizer has made a significant contribution to the Irish economy. This latest investment is a testament to the quality and experience of the workforce here.”