A company restructuring in Pfizer's two plants went underway as the pharmaceutical giant announced that a US$130 million investment is heading their way.
A large portion of the investment will be given to the Grange Castle plant. The placement, worth US$100 million, is set to create almost 250 construction jobs in the plant located in Dublin, Ireland. The remaining US$30 million will be invested in the Ringaskiddy factory in Cork.
According to the company, the investments should allow the new production and development of new medicine for Pfizer. The company's wonder drugs Lipitor and Viagra have recently come off their respective patents.
Pfizer's products that have come off patent posed problems for the pharmaceutical firm in the past. Due to this phenomenon, a total of 177 layoffs were made because of a much needed cost reduction measure. The Cork site was the worst hit by the patent release.
"I am determined to ensure that we build on such success and provide the opportunities for further growth in this sector and create the jobs we so badly need," said Ireland's Jobs Minister Richard Bruton.
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