DUBLIN, Ireland: AstraZeneca will build a manufacturing facility in Dublin at a cost of $360 million.
The new plant will employ a staff of 100, said officials.
The plant in Ireland is being described as a next-generation active pharmaceutical ingredient manufacturing facility for small molecules, which will produce primary ingredients for medicines.
The news was welcomed by Taoiseach Micheal Martin, who called it a "significant commitment" to the country.
"In choosing Ireland as the location for its new next-generation active pharmaceutical ingredient manufacturing facility, AstraZeneca joins the very strong and successful network of global life sciences companies we have in Ireland," he said, as reported by The Irish Times.
The Irish plant is seen as being critical in allowing AstraZeneca to maintain worldwide supplies, as well as ensure late-stage development of pharmaceuticals.
To be located at the Alexion campus in College Park, Dublin, it will be the company's first manufacturing plant in Ireland.
"This is a tremendously proud moment for us all at AstraZeneca and I am delighted that we are bringing this very significant investment to Dublin which..will create highly skilled jobs, nurture the country's dynamic life sciences sector and allow for the development of high value-added medicines," said Pascal Soriot, chief executive of AstraZeneca, as quoted by The Irish Times.
Earlier speculation placed the new AstraZeneca facility in Britain, to compliment their £380 million site in Macclesfield, in the north of England.