Bristol-Myers Squibb to invest €720m in Dublin facility

he new 30,000 sq.m facility at Cruiserath near Blanchardstown will see the manufacture of a range of biologic drugs.

The construction phase will see the creation of a further 1,000 temporary jobs.

The new plant will be built on the grounds of the company's existing manufacturing site in the area.

Earlier this year, the company announced it would close that manufacturing facility, with the loss of 130 jobs, because of changes in market demand.

Funding for the first phase of the new development has been approved.

The full cost will be finalised in the second half of next year.

It will take four years to build and should be operational in 2019.

The roles that will be created at the completed plant will include scientists, engineers, bio-process operators and quality specialists.

The project has been supported by the Department of Jobs through IDA Ireland.

Taoiseach Enda Kenny has welcomed the decision, describing it as a vote of confidence in Ireland.

IDA Chief Executive Martin Shanahan said: "Ireland's pharmaceutical industry is one of the country's strongest sectors and when this expansion is complete, will represent a huge boost to Ireland's overall portfolio.

"This facility will be the second biggest investment won by IDA's life sciences division and is a major vote of confidence in Ireland's ability to win large-scale capital investment projects."