I welcome the announcement that Pfizer is investing €23 million in its facility at Ringaskiddy in Co. Cork.
This investment is yet another indication that Pfizer is very committed to its operations here in Cork, and indeed in Ireland generally. The €23 million investment will allow the company to develop specialist new capabilities to manufacture new treatments for cancer and other future pipeline medicines.
The investment is being supported by the Department of Jobs, Enterprise and Innovation through IDA Ireland. As well as the €23 million being invested at Ringaskiddy, a further €75 is being spent at the company’s facility at Grangecastle in Dublin. It will allow both sites to expand their capacity and develop more advanced therapies to treat some of the world’s most difficult to cure diseases.
The Ringaskiddy site was Pfizer’s first manufacturing facility in Ireland when it opened almost 45 years ago and I am delighted to see it go from strength to strength and continue to be a major employer in the area. I hope this investment will lead to further expansion and job creation in the future. The company has continued to evolve to the demands of its customers and the ever advancing world of medicine, and this investment is just the latest example of that approach.
The Minister for Jobs, Richard Bruton TD, has identified pharmaceuticals and life sciences as hugely important sectors for the Irish economy and the Government’s Action Plan for Jobs includes a series of measures to sustain and grow this sector.
This investment ensures the Ringaskiddy site will be in a position to be considered for on-going development work on new products, and as such it is a testament to the skills and dedication of the workers at the facility. I have no doubt that this investment will make it easier for the Ringaskiddy facility to attract the development of new medicines with the Pfizer global supply network.