Pharmacy firm announces €44m investment
A MAJOR investment is being announced by a leading pharmaceutical company in the south-east.
Sanofi is investing €44m in Genzyme's biotechnology campus in Waterford.
The development will increase the capacity to produce Lantus - the number one insulin brand worldwide.
Production of Lantus is expected to begin in 2016.
The investment is backed by the Department of Jobs, Enterprise and Innovation through IDA Ireland.
The Government regards the investment as hugely significant as it shows the country is attracting high-end developments.
Jobs Minister Richard Bruton is in Waterford today discussing the development with the company.
The company already employs 500 people in the south-east.
Genzyme Waterford will continue to make products for patients living with rare genetic diseases, kidney disease and cholesterol management requirements.
The latest investment comes after €150m was already spent just over a year ago.