Japanese chemical company Takeda Chemical Industries said today it will set up a new bulk drug plant in Clondalkin, Co Dublin at a cost of €80 million.
It said the Ireland plant will be the first overseas bulk plant plant built by the company.
The construction of the new facility will start in October, and the plant will begin operations in 2004, it said.
The plant will make drugs for clinical trials as well as the diabetes drug Pioglitazone for exports to the US and Europe, it said.
"The construction of the new bulk plant in Ireland is a vital step on the way to putting in place a global business structure," said Mr Shozo Nakamura, Takeda managing director of Takeda's pharmaceutical production division.
"It will enable us to meet future growth in demand for our products, and ensure the stable supply of those products to the US and European markets." he added.