Pfizer to invest over $1.26 billion in Dublin manufacturing site

Pfizer to invest over $1.26 billion in Dublin manufacturing site

Dec 1 (Reuters) – Pfizer Inc (PFE.N) said on Thursday it plans to invest more than 1.2 billion euros ($1.26 billion) to expand manufacturing at its plant in Dublin, which would double the capacity to produce key substances used in biological drugs.

The company last year began producing an ingredient for its COVID-19 vaccine at the facility in Grange Castle, Dublin.

“This investment for non-COVID licensed and pipeline products, will help to further expand the site’s broad and robust capabilities,” Mike McDermott, chief global supply officer at Pfizer, said.

The move will lead to the creation of 400 to 500 new roles and add a new facility, which is due for completion in 2027, according to the company.

($1 = 0.9530 euros)

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Source: Reuters