Waterford-based pharmaceutical firm EirGen Pharma said it will create up to 40 new jobs as it expands its operations.

The company, which officially opened its international headquarters today, specialises in the development and manufacture of oncology products. It recently invested €4 million in developing is Waterford facility.

"Since EirGen's inception, we have been committed to high-tech job creation for the South East and today's announcement will offer exciting new career opportunities for both highly-skilled graduates and experienced professionals from within the pharmaceutical industry," said chief executive Pat Carney.

The company, which was founded in 2005 by Mr Carney and chief technical officer Tom Brennan, currently employs more than 70 staff. It exports its products to more than 40 countries worldwide.

“Official figures show that the Life Sciences sector is the fastest growing area of Ireland’s export industry,” said Mr Brennan. “We hope that our continuing efforts will inspire other high-end technology companies to invest - and re-invest - in the region, providing further opportunities for employment growth while driving forward efforts to secure Ireland’s future as the location-of-choice for world-leading, research and manufacturing industries.”

The move was welcomed by Enterprise Ireland chief executive Julie Sinnamon, who described the firm as an ambitious, innovation led business.