Mylan ($MYL) is sinking $500 million into an expansion in Ireland. The U.S.-based generics company plans to spend €76 million a year for the next 5 years on building up its R&D and manufacturing facilities at two Irish sites, creating 500 jobs along the way.
Right now, Mylan employs about 700 people in Ireland, so the new jobs will almost double its workforce there. Some 220 of the new jobs will be added at Mylan's Bioniche Pharma unit in the Galway area; the rest will reinforce operations at Gerard Laboratories in north Dublin, the Irish Times reports.
The company's respiratory drugs and injectables business will both get new capacity in the expansion, CEO Heather Bresch said in a statement. "This investment in Mylan's Irish operations and the growth of our capabilities in the country demonstrate our continued commitment to and confidence in our respiratory franchise and injectables platform, both of which are among Mylan's many long-term growth drivers," Bresch said.
Mylan is already the biggest generics maker in Ireland. Globally, its workforce amounts to about 18,000.
- get the joint press release
- read the Irish Times coverage