DUBLIN Jan 9 U.S. medical device maker
Allergan will invest $350 million to expand its
manufacture of the anti-wrinkle drug Botox in the west of
Ireland, creating 200 new jobs over the next four years bringing
its total Irish workforce to 1,100.
Botox is already a $1.5 billion-a-year product and approval
for its use in treating migraine headaches and overactive
bladders is expected to provide the drug's next frontier.
"Based on Allergan's present strategic plans, we anticipate
that demand for Botox will continue to grow, fuelled by recent
approvals of the product," Pat O'Donnell, managing director of
Allergan Pharmaceuticals Ireland, said.
The construction of the larger manufacturing facilities is
expected to create 200 jobs for local builders and other
suppliers in some much-needed good news for the Irish domestic
economy, which is struggling to emerge from recession.
A survey on Monday showed Irish consumer sentiment suffered
its biggest fall in over a decade in December amid fears over
the future of the euro zone and the prospect of years of
government cutbacks and tax increases.
Ireland is relying on export-led growth to pull its economy
out of the doldrums with scores of major multinational companies
based in the country, attracted by its low corporate tax rate
and educated, English-speaking workforce.
U.S. companies alone account for over a quarter of Irish
annual economic output and eight of the world's ten biggest drug
companies have manufacturing facilities in Ireland.
Despite deepening gloom over the euro zone debt crisis,
Ireland's investment authority had a record year in 2011
attracting 148 investments and creating 13,000 jobs.
Consultancy group Accenture on Monday said it would
create 100 jobs in Ireland.