Biopharmaceutical firm AbbVie has opened an upgraded manufacturing facility in Co Sligo, which is expected to generate 175 new jobs when fully operational.
The company said the €85 million expansion to its existing plant on the Manorhamilton Road would increase capacity to deliver its existing portfolio of medicines and to support potential new pipeline therapies.
AbbVie, which was originally part of Abbott Laboratories, is developing drug therapies across the areas of liver disease, oncology and women's health.
Since the initial announcement of the expansion in 2012, it has invested €85 million in the Sligo facility, which has resulted in the creation of 100 highly skilled jobs in Sligo, with a further 75 due to come on stream shortly.
Attending the opening, Taoiseach Enda Kenny said: "AbbVie has had a long and deep relationship with Ireland and today's opening of their new €85 million extension to the Manorhamilton site furthers Ireland's reputation as a leading location for investment for the life sciences sector."
“The Government’s action plan for jobs prioritises measures to support fast-growing sectors like this so we can increase job creation and ensure economic recovery,” he added.
AbbVie’s senior vice presicent Azita Saleki-Gerhardt said the investment represented the company’s ongoing commitment to Sligo and Ireland as an important part of AbbVie’s biopharmaceutical manufacturing strategy.
The company employs more than 400 people in the Republic , and has locations in Dublin, Cork and Sligo.
The IDA's Barry O'Leary said: "It is significant to note the substantial benefit the company provides, not just to Sligo but to the whole North West region." "Drawing, as it does, workers from counties Sligo, Donegal, Leitrim, Roscommon, Fermanagh and Mayo allows that benefit to spread out to those local economies," he added.
