The company, which specialises in manufacturing plasma-based medicines, is among the global leaders in its field and comes to Ireland as part of its international expansion.
Its bioscience division’s global operations centre in Grange Castle Business Park will create a range of roles at the 22,000sq m site.
IDA chief executive Martin Shanahan welcomed the opening of the new facility as a breakthrough investment for the country.
“Grifols is a very welcome addition to the thriving life sciences sector in Ireland,” he said.
“Its decision to establish this important part of its international business in Ireland plays an important role in attracting other investments from the European marketplace.
“This is a breakthrough investment for Ireland in the important blood plasma subsector of biopharmaceuticals. Gaining European FDI is a key objective of IDA’s new strategy.”
Grifols’ investment is the second major pharmaceuticals announcement this week following Regeneron’s €308m investment in Limerick which the company says will see 200 new jobs come on stream.
The centre should be fully operational mid-way through next year and will centralise Grifols’ labelling, packaging, and distribution of finished plasma products to all its commercial subsidies and global distributors other than Spain and the US.
Plasma-based treatments are used to treat a range of illnesses in areas such as neurology, immunology, and passive immunisation where one person’s antibodies are given to another.
The facility will be the central warehouse for all plasma from the US which can be stored at temperatures of -30 degrees celsius.
Regulatory and quality responsibilities will also be handled from the Dublin facility as will research and development; administration and commercial activities.
The company’s in-house bank or global treasury functions will also be among the responsibilities of the company’s Irish-based staff.
Grifols’ bioscience division generated revenue of €2.5bn in 2014, or 75% of the group’s total net revenue.
The company generated more than 93 of its sales outside its home country of Spain in 2014, and currently has a direct commercial presence in 30 countries and distributes its products in 100 countries.