Teva to create 165 jobs in Waterford

03-03-2008

by Deirdre McArdle

Some 165 highly skilled jobs are to be created in Waterford as Teva Pharmaceuticals invests EUR65 million in expanding its existing facility there.

The jobs, which will be created in the next five years, will mainly be in the areas of research and development, manufacturing, quality control and administrative and support services. The investment will also help the firm increase production at the Waterford site.

Teva Pharmaceuticals' base in Waterford Industrial Estate, where it employs 650 permanent staff, focuses on its IVAX business, which it acquired in 2006. IVAX Pharmaceuticals Ireland is the key supply site for Teva's respiratory products for global markets, and is based in two buildings. A third facility manufactures oral solid dose products to treat a range of ailments, largely for the US market. The Waterford site is also the corporation's primary global research centre for respiratory products.

Minister for Enterprise, Trade and Employment Micheal Martin, who made the announcement, said Teva Pharmaceuticals' decision to expand its Irish operations was a testimony to the performance of the facility to date. He said the site's R&D team was responsible for developing new device technologies for metered dose inhalers, which have been well received by patients in the markets it serves.

"The fact that IVAX Waterford is also Teva's primary respiratory global research centre is testimony to its leading role and prestigious position within the group," he added.

Teva is one of the top 20 pharmaceutical companies in the world and one of the largest generic pharmaceutical companies in the world.

The pharmaceutical sector has become increasingly important to Ireland: 13 of the top 15 pharmaceutical companies in the world have substantial operations here. In all, over 80 pharmaceutical firms employ over 20,000 people in Ireland.

This latest jobs announcement suggests the impact of the pharmaceutical sector appears to be strengthening again following the job losses and postponed investment that hit the industry last year. During 2007 Pfizer unveiled a job-cutting programme, while a billion dollar investment from Amgen, which was primed to create over 1,000 jobs in Cork, was postponed indefinitely.