€190m pharmaceutical plan to create 100 jobs in Cork

A €190 million investment, creating 100 jobs in Cork is expected to be announced this morning.

A further 500 jobs will be created in construction of the pharmaceutical firm, located at Cork Harbour.

Cork fought off major international competition to attract the project, to be up and running by next year.

It will focus on biologics and is understood to be one of the largest investments in such a facility outside the US. The plant will work on medicines for conditions such as chronic pain, oncology, diabetes and auto-immune diseases.

Enterprise, Trade and Employment Minister Micheal Martin will make the announcement in Cork.

The investment is being supported by IDA Ireland.

It follows news yesterday financial services provider CUNA Mutual will locate its European headquarters in Dublin, creating 25 jobs. CUNA Mutual Europe will build expertise in product development, R&D, actuarial, programme management, new market entry, incubation and business development. Minister for Innovation Policy, Michael Ahern said: “Their decision to invest in excess of $14 million (€9m) to base their new European headquarters here shows the confidence they have in our economy.”