German company to invest €70m in new Cork plant

German drugs group Altana is to open a facility in Cork which will eventually employ 150 people.

The group is working with the IDA in developing plans to build a factory in Carrigtwohill, Co Cork.

The project was announced on March 19 by the company when it released record profits for 2002 and its plans for investment in 2003.

In an announcement the company said “ALTANA Pharma will establish an ultra-modern Roflumilast tablet-producing factory in Cork, Ireland. This will involve investment of around €70m and approximately 150 new jobs.”

Roflumilast is used for asthma and other respiratory disorders. The group has 10,000 employees worldwide. The Cork facility will be its first investment in Ireland.