Pharmaceutical giant Glaxosmithkline (GSK) has announced plans to manufacture a new breast cancer drug at its Cork plant and create 150 jobs.
GSK said today it will invest up to €250 million over the next five years in its Currabinny plant, near Carrigaline, to produce the active ingredient for Tykerb - a new oral treatment for advanced breast cancer.
The company - which already employs 1,600 people in Ireland and over 600 in Cork - said the IDA-backed investment would create 150 high-level positions.
Earlier this month, the United States Food and Drug Administration (FDA) approved the use of Tykerb in combination with Xeloda for the treatment of patients with advanced or metastatic breast cancer who carry the HER-2 gene and who do not respond to an existing treatment, Herceptin, which is produced by Genentech.
A total of 77 women in Ireland participated in global clinical trials of the drug that were found to slow the progression of advanced breast cancer by over 50 per cent.
The drug has already been hailed as a significant breakthrough in the treatment of breast cancer, which is the most frequently diagnosed cancer in women, resulting in over one million new cases each year. The statistics suggest one Irish woman in 11 will develop breast cancer in her lifetime.
Minister for Enterprise, Trade and Employment Micheál Martin today welcomed the announcement, saying it was positive news for the millions of women worldwide who suffer from breast cancer.
President of Glaxosmithkline Pharmaceuticals in Europe Andrew Witty said: "We are dedicated to the further study and development of Tykerb in a variety of settings including adjuvant breast cancer as well as in other solid tumour types, and I am delighted that Irish researchers will be assisting us in this regard," he said.
GSK's Cork site director, Finbar Whyte, said the decision to produce the active ingredient for Tykerb in Cork is the culmination of years of committed research and development.
Pharmachemical Ireland, the Ibec group that represents the pharmaceutical and chemicals industry, said: "This announcement clearly shows that Ireland remains a location of choice for new investment."
Cork Chamber of Commerce president Roger Flack said the announcement showed significant confidence in the pharmaceutical industry in the region.