Pfizer Inc. (NYSE:PFE) To Expand Ireland Biologics Plant

373

Pfizer Inc. (NYSE:PFE) has embarked on a process of upgrading its biologics plant in Dublin, Ireland. The company said it was in the process of submitting the plans for expansion of the facility to local authorities.

The specific Irish facility that Pfizer is planning to upgrade is the Grange Castle site, which is located in Clondalkin. The company will be making its planning application to the South Dublin County Council. The expansion of the Grange Castle facility is expected to create hundreds of new jobs.

It is said that the Grange Castle plant is one of Pfizer’s largest biologics facilities in the world. The company manufactures its blockbuster products such as vaccine drug Prevnar and arthritis drug Enbrel at the Grange Castle plant facility.

According to Pfizer, it invested about $200 million in the facility several years ago. But in recent years, it has funneled $330 million to both Grange Castle and Ringaskiddy plants. It is currently not clear how much Pfizer plans to invest in upgrading the Grange Castle, but the company said it will be a potentially significant expansion. No timeline was provided for when the plan application will be made and how long it might take the authorities to approve it.

More expansion plans

Pfizer appears to be on an expansion spree. Just last month the company said it would invest $200 million to construct a new 5-story facility inside its Andover campus. The new facility, with 175,000-square-foot space, will be dedicated to production of vaccines and biologics. Pfizer expects the new Andover facility to be operational by early 2019.

Pfizer also has plans to increase its Chinese footprint with a $350 million investment toward a biotechnology center in the country. China’s is the world’s second-largest drug market.

An ad to help with our costs