A MASSIVE €44m investment will help create up to 100 jobs.
The investment at Genzyme's biotechnology campus in Waterford will boost the products made at the site by adding the insulin hormone Lantus.
Jobs Minister Richard Bruton hailed the multimillion-euro investment as a major vote of confidence in the Waterford operation.
"Healthcare is a key sector targeted in the Irish Government's Action Plan for Jobs, and we have implemented a number of measures in 2012 to make it easier for indigenous and multinational companies in this sector to succeed and expand in Ireland," Mr Bruton said.
A spokesman for Genzyme said the only jobs that would be created would be 100 contracting positions for the retrofitting of the plant. Subject to regulatory approvals, commercial production of Lantus insulin at Waterford should begin in 2016.