FDI of the Month December 2022: Pfizer to invest €1.2 billion at Grange Castle Facility

FDI, FDI of the Month | Wed 11 Jan | Author – Business & Finance
pfizer

Pfizer established their first Irish base in Cork in 1969. The pharma company now employs thousands of people nationwide and have announced plans to invest €1.2 billion at their Grange Castle Facility in Dublin. Pfizer is our FDI of the month for December 2022.


The investment will fund the construction of a new facility at the Grange Castle site in Dublin. This will reportedly double their capacity for biological drug substance manufacturing and create hundreds of new jobs.

Pfizer set up their first base in Ireland in Ringaskiddy, Cork in 1969. Their presence here has continued to grow and they now employ approximately 5,000 people in Ireland.

“The pharma sector is such an important part of the Irish economy and the commitment shown by Pfizer to further expand its business here is great news,” said Tánaiste Leo Varadkar about the latest news.

“The work undertaken at their facilities across Ireland saves and improves the lives of people all over the world. I am very pleased that their presence in Dublin, and indeed in Ireland, continues to go from strength to strength.’’

Mary Buckley, Interim CEO, IDA Ireland also commented on the news:

Pfizer has had a presence in Ireland for over 50 years and this major additional investment, adding further drug substance capacity to its already substantial Irish operations and jobs, underscores the strategic importance of Ireland in Pfizer’s global operations.”

“It is proof of the company’s future commitment to Ireland and testament to Ireland’s continued attractiveness as a location for investment.,” she added.


READ MORE FDI OF THE MONTH:

November 2022: Technimark invests €26m in Longford

October 2022: Dell Ireland remains vital in US firm’s operations

September 2022: Johnson & Johnson Vision Care Ireland UC announces expansion in Limerick