Wednesday 26 September 2018

Galway jobs boost as pharma firm Chanelle expands

Group to hire 350 as part of five-year €86m investment in Loughrea headquarters as it targets EU and US markets

Backing a winner: Chanelle McCoy is director of medical business at the group owned by her father Michael Burke, the company’s managing director
Backing a winner: Chanelle McCoy is director of medical business at the group owned by her father Michael Burke, the company’s managing director
Ellie Donnelly

Ellie Donnelly

chanelle group is to add 350 jobs to its 500-strong workforce in the Galway town of Loughrea.

The roles at the Irish-owned company, which manufactures pharmaceutical products, will be created over the next five years, and form part of an €86m investment.

This investment, financed by company funds, is being split on both capital expenditure of €40m and R&D spend of €46m.

"Since 2016 we have invested over €55m and created 175 new jobs in our global headquarters in Loughrea," said Michael Burke, owner and managing director of Chanelle.

"Over the next five years we will increase the pace of our investment programme."

Enterprise Ireland CEO Julie Sinnamon told the Irish Independent that the investment is the biggest regional Enterprise Ireland announcement for this year.

"We have a really close relationship with the group from when it started with two people in 1985," Ms Sinnamon said.

"Enterprise Ireland helps the company through both our overseas network, as well as supporting the company with its big R&D spend.

"Today the group is spending €6m a year on R&D," she added.

The jobs were announced as the group opened a new €10m manufacturing plant at its Loughrea headquarters.

The new 30,000 sq ft facility is Europe's first dedicated Spot On manufacturing plant built to European and US quality standards.

Spot On is a topical treatment used globally to protect dogs and cats against harmful parasites.

Chanelle also announced details of the next phase of its capital investment programme.

This will see construction commence in 2019 on a 25,000 sq ft manufacturing facility for medicinal products for the US market.

Founded in 1985, Chanelle holds over 1900 product licences for human health products worldwide.

It has over 2000 animal health licences registered in the EU - the largest number of registered veterinary licences of any company in the EU, with 500 licences outside the bloc.

Michael's daughter, Chanelle McCoy, whose husband is renowned former national hunt jockey Tony McCoy, serves as director of medical business at the group, which is the largest Irish-owned manufacturer of generic pharmaceutical products in Ireland.

Last year the company reported sales of €111m, a figure it expects to increase to €130m in 2018.

Local Fianna Fáil councillor Shane Donnellan described it as "massive news" for the local area.

"The additional jobs will bring more people to the area and help keep retail outlets alive, which are now coming under pressure from online shopping," he said.

Irish Independent

Business Newsletter

Read the leading stories from the world of Business.

Also in Business