Allergan ($AGN) has big building plans in Ireland. The U.S.-based company says it's planning to spend 270 million euros, or $350 million, to expand a Westport plant, creating 200 new jobs over the next four years. The impetus: Growing sales of its Botox injection, best known as a wrinkle-fighter but recently FDA-approved for new therapeutic uses.
Last year, Botox won the FDA nod as a migraine preventive and as a treatment for incontinence in patients with certain neurological conditions. The company plans to push for broader approval in patients with overactive bladder, an indication that could significantly boost sales. "Based on Allergan's present strategic plans, we anticipate that demand for Botox will continue to grow, fueled by recent approvals of the product," said the company's managing director in Ireland, Pat O'Donnell.
The company has bought a technology park adjacent to its Westport plant, which now employs about 900, for the new construction, O'Donnell said. In addition to the Botox manufacturing capacity, the new facility will also be a manufacturing base for biologics in Allergan's pipeline, as well as increased production of other products.
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