US drugs manufacturer Amneal has purchased a 200,000 square foot former Johnson & Johnson plant in Cashel, Tipperary, and will hire between 250 and 300 people when it is operational.
The former Johnson & Johnson plant was sold by owner Solidus Private Equity, a Singapore-based investment firm. Amneal worked closely with IDA Ireland to acquire the facility.
The Cashel site will be dedicated to R&D and production of metered-dose and dry powder inhalers (MDIs and DPIs) as well as biosimilars – all high-end specialty medications — with each product occupying approximately 50pc of the building.
From its humble start in 2002 as a contract drug manufacturer, Amneal has grown dramatically to its current position as the seventh largest US generics supplier by volume.
To become a world-class generics player, Amneal is targeting expansion in Europe, Australia, Japan, south-east Asia and Latin America.
Strategic acquisitions or partnerships in Ireland are part of Amneal’s smart, sustainable strategy.
“Our new Ireland facility is critical to Amneal’s long-term global growth, in Europe, the US and throughout the world,” explained Chintu Patel, Amneal co-CEO and co-chairman.
The south east is an area that has suffered from unemployment historically but in the past three years has seen the fastest rate of jobs growth in the country, said Jobs Minister Richard Bruton TD.
“The project we are announcing today with support from my Department represents a massive boost for Cashel and the whole of Tipperary,” Bruton added.
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Rock of Cashel image via Shutterstock