€12m to be invested locally for expansion of Waterford-based pharma company

Twelve million euro is set to be invested locally for the expansion of a Waterford-based pharma company. 

It comes as EirGen Pharma acquired a new building at the IDA Industrial Estate in Waterford to facilitate the expansion of its Oral Solid Dose manufacturing and packaging capabilities. 

The expansion - which will provide an additional 3,500m2 of state-of-the-art manufacturing capabilities - will see millions invested locally throughout the construction phase in 2022/2023.

The Tánaiste and Minister for Enterprise, Trade and Innovation, Leo Varadkar, called the decision "a testament to the local team and talent pool" of the South East. 

CEO Damien Burke stated: "The acquisition of this building and adjoining 1.2-hectare site strategically positions the business for sustained growth over the next ten years.

"It also represents a significant vote of confidence by the OPKO board in the capability of our employees, our leadership team in EirGen and Waterford as a locality to expand our business." 

Construction and fit-out will reportedly commence in the third quarter of 2022 with commercial operations starting in quarter one of 2024.