HK-listed WuXi Biologics to invest US$390m in biologics drug producing plant in Ireland
From left: CEO of WuXi Biologics Chirs Chen, Minister for Business, Enterprise & Innovation Heather Humphreys, Prime Minister of Ireland Leo Varadkar, Chairman of WuXi Biologics Li Ge, CEO of Industrial Development Authority of Ireland, attended the signing ceremony in Ireland Martin Shanahan attend the signing ceremony in Ireland.
Hong Kong-listed biopharma technology service provider WuXi Biologics will invest 325 million euros (US$390 million) for a new biologics drug manufacturing facility in Ireland, the first overseas investment of its kind for a Chinese pharma company.
The 260,000 square-meter manufacturing site will be located at an industrial park in Dundalk in northern Ireland and is expected to create 400 new jobs and 700 construction jobs in phases over five years.
The site will begin construction in the first quarter in 2019 and be complete by the second quarter of 2021.
“WuXi Biologics is a strong addition to Ireland’s growing cluster of next-generation bio-pharmaceutical companies and it also shows great commitment to Ireland with this project,” said Martin Shanahan, CEO of the Industrial Development Authority of Ireland.
Chris Chen, CEO of WuXi Biologics, said the investment in Ireland "is the start and a critical part of our global bio-manufacturing network to ensure that biologics are manufactured at the highest quality and with a robust supply chain to benefit patients worldwide.”
Chen told a media interview earlier this year that Europe is the company's fastest growing market by sales revenue and that it will continue to expand in European countries.
WuXi Biologics, which helps biopharmaceutical companies and developers handle research, clinical and commercial work, aims to channel 50 percent of capacity at the new site to potential clients in the US and European Union.
