The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
100 jobs Number of planned job creations
Announcement Date
2 May 2008
Employment effect (start)
Foreseen end date
2 May 2011
Description
Pfizer, a major pharmaceutical company, has announced the creation of 100 new full-time jobs in Cork over three years, to be located at a new research and development operation. Pfizer is to invest €190 million, with the support of Ireland's Industrial Development Agency (IDA), in the establishment of a biologics facility at Ring-askiddy, Cork. The new plant will be constructed on a site next to Pfizer's existing facility in Ring-askiddy, and will be running by the end of 2009.
The new plant will develop new types of medicines called biologics, which can be used in the treatment of cancer and diabetes. Biologics are specialised large-molecule medicines based on proteins, peptides and antibodies that primarily come from molecular biology developments. They must be manufactured in highly specialised and sophisticated processing plants.
Pfizer currently employs roughly 2,300 people in Ireland at sites in Cork and Dublin. Pfizer opened its main Ringaskiddy plant in Cork in 1972.
Sources
3 May 2008: The Irish Times
Citation
Eurofound (2008), Pfizer, Business expansion in Ireland, factsheet number 66596, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/66596.
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