Regeneron announces $350m investment

Business, Employment, Finance | Mon 19 Oct | Author – Business & Finance

Biopharmaceutical company Regeneron has announced that it is investing an additional $350m in its Limerick bioprocessing campus.

The company has also announced it aims to create 200 jobs, bringing the total expected job creation in the Limerick area to 500 jobs and total investment to $650m by the end of 2017.

Regeneron’s biologics production facility in Limerick is now operational with the first production line on track to enter validation before year-end 2015.

Leonard S Schleifer, CEO, Regeneron, said: “With a growing portfolio of marketed medicines and an innovative pipeline rooted in cutting-edge science and technology, Regeneron is one of the fastest-growing global biopharmaceutical companies. The Limerick facility will play an essential role in ensuring Regeneron delivers on our mission to consistently and repeatedly bring new medicines to patients with serious diseases.”

Dan Van Plew, general manager of IOPS, Regeneron, commented: “The entire community has gone out of its way to welcome us and help us create the momentum we need to build this site. Our people – your countrymen – have done something remarkable. In less than two years we have brought a dormant building back to life, and are well on our way to building a complex, high-quality facility in industry-leading time. Our hundreds of current employees, contractors and trades people are top notch. The decision to create 200 new full-time roles and invest an additional $350m in Limerick was an easy one to make because of our hiring and trades experiences over the last two years. Regeneron is an exciting company with excellent career opportunities. We are growing, and we need talented people to join us in creating something truly special here in Limerick.”

An Taoiseach Enda Kenny TD added: “I’m delighted to welcome this exciting additional $350m investment by Regeneron with 200 additional jobs for Limerick on the same day that the Government is publishing its Mid West Action Plan for Jobs. We are intent on keeping this recovery going by keeping Ireland competitive and by attracting more investment and jobs into the regions. Regeneron’s decision to expand so significantly is testament to the talent pool and attractive business environment available to companies in Ireland.”