Cork Planning Application from ALTANA Pharma
ALTANA Pharma AG, the international research-based pharmaceutical group with headquarters in Germany, is set to lodge a formal planning application for its proposed production facility at the IDA Industrial Estate, Carrigtwohill, Co. Cork.
This EUR70 million investment in a high-value tablet making facility at Carrigtwohill will create a major global source for ALTANA Pharma products. The 11 hectare site will be the only one in Europe outside of Germany focussing on worldwide tablet supply.
The investment, which was announced by the Tanaiste, Ms Mary Harney, T.D. on behalf of IDA Ireland in March, has been prompted mainly by the Altana Pharma Group's strong international growth, which requires capital expenditure in two key areas to support it. In addition to the Irish location the Group also intends to expand an existing site near Berlin.
A statement said the EUR70 million initial investment will establish a high-value operation at Carrigtwohill. The company will create up to 150 new jobs for highly skilled staff, the majority of whom will be recruited in Ireland. The new facility will play an important role in the company's future development.
The Carrigtwohill site will initially produce tablets for one of the company's drugs, Roflumilast, for the treatment of chronic obstructive pulmonary disease (COPD) and asthma following full regulatory approval.
A second medicine, Pantoprazole (Protiumţ), the most successful drug of ALTANA Pharma, which is used in over 90 countries to treat acid-induced gastrointestinal conditions and oesophagitis, will also be produced.
Subject to planning approval, ALTANA Pharma hopes to begin construction by the end of this year and commence production for market supply in 2006.
In 2002 ALTANA Pharma, which is headquartered in Konstanz, Germany, achieved EUR1.9 billion in sales; had more than 7,500 employees and spent EUR335 million on research. It has more than 30 subsidiaries and affiliates throughout Europe, the Americas, South Africa, Australia and Asia.
Other news from the department business & finance
