PHARMACEUTICAL COMPANY Pfizer Inc is to invest more than €11 million in the establishment of a new research and development laboratory at its plant in Ringaskiddy, Cork.
The new facility, which will be located within the Process Development Centre (PDC) at the Cork site, will research, develop and create new manufacturing technology for more efficient production processes for Pfizer’s facilities around the world.
A company spokeswoman said the technology, which had been developed for other industries, had the potential to revolutionise the manufacture of active pharmaceutical ingredients (API) and greatly reduce the associated costs of production.
The Pfizer operation at Ring-askiddy, which already employs more than 550 people, comprises four bulk pharmaceutical plants producing a range of material for many of Pfizer’s major products.
All of the Lipitor active pharmaceutical ingredients in the world and 70 per cent of all Lipitor tablets are produced in Cork by Pfizer.
The company has eight different operations in Ireland employing 2,000 people.