EirGen Pharma has acquired a new building to expand its Oral Solid Dose business in Waterford, with plans to invest €12m over the next two years.

The new facility will provide an additional 3,500 m2 of space to expand EirGen’s manufacturing and packaging capabilities for its global customer base. The building is in the IDA Ireland industrial estate in Waterford.

Speaking about the announcement, Tánaiste and Minister for Enterprise, Trade and Employment 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.”

EirGen said the expansion has been planned since last year, when the pharma company agreed to sell one of its Waterford facilities to biotech company Horizon Therapeutics.

EirGen said its parent company, OPKO Health, plans to invest in the development of its core EirGen business in Waterford.

EirGen Pharma CEO Damien Burke said the acquisition of this new building and an adjoining 1.2 hectare site “strategically positions the business” for sustained growth over the next decade.

“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,” Burke said.

The new facility’s construction is expected to begin later this year, with commercial operations planned for the start of 2024. EirGen’s expansion is supported by the Irish Government through IDA Ireland.

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

EirGen Pharma was established in 2005 and has been part of OPKO Health since 2015. It develops and supplies specialty care medicines to patients in more than fifty countries worldwide.

10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.

The post EirGen Pharma to expand Waterford operations with €12m investment appeared first on Silicon Republic.