European Union gives nod to State backing for Abbott

THE European Union has cleared the way for the IDA to grant €13 million in aid to Abbott Labs.

The US pharmaceutical company plans to set up a €39m research and development centre in Galway that will create up to 80 jobs.

Approval by the EU on any large investment project is required under European competition laws. Last year, the EU blocked the Government from backing a major expansion by Intel.