EirGen to expand operations in Waterford

The pharmaceutical firm is to invest €12m

James Murphy, EirGen Pharma head of engineering; Damien Burke, EirGen Pharma CEO, and Ann Marie Slattery, EirGen Pharma head of talent and organisational development at the announcement of a €12m investment in the IDA building, Unit 507, Waterford Business Park, Cork Rd, Waterford City. Picture: Patrick Browne

Waterford pharmaceutical firm EirGen is to invest €12m in the expansion of its manufacturing facilities.

The company has acquired a new building in the IDA Industrial Estate in the city which will facilitate an expansion of its oral solid dose manufacturing and packaging capabilities, providing an additional 3,500sq m.

EirGen develops and supplies high potency speciality care medicines to patients in over 50 countries. It was established in 2005 and has been part of OPKO Health since 2015.

This expansion has been planned since last year when EirGen Pharma agreed to sell its sterile fill-finish capability to Horizon Therapeutics. Within the sale was the fill-finish technology and the EirGen Pharma building at Butlerstown, Waterford.

At the time, EirGen Pharma’s parent company OPKO committed to investing in the growth and development of its core business in Waterford, consisting of oral solid dose technology for supply to global markets from Waterford City.

The construction and fit-out will see up to €12m invested locally and will commence in the third quarter of this year with completion targeted for early 2024.

'Sustained growth'

CEO Damien Burke said: "The acquisition of this building and adjoining 1.2-hectare site strategically positions the business for sustained growth over the next 10 years. It also represents a significant vote of confidence by the OPKO board in the capability of our employees, our leadership team in EirGen, and Waterford as a locality to expand our business."

Tánaiste and Minister for Enterprise, Trade and Innovation Leo Varadkar said: "This decision really reinforces the company’s commitment to Waterford and is a testament to the local team and talent pool we have in the south-east.”

IDA Ireland is supporting the expansion. CEO Martin Shanahan said: “This site and building acquisition by EirGen marks a significant milestone in the company’s evolution and growth in Waterford. It has, with this development, strongly endorsed Waterford and the South East Region as an excellent location for its continued development and future growth."