Pfizer cancellation is a €400m setback
By Maurice Garvey
A SETBACK for the local economy this week came about when Pfizer cancelling a planned €400 million expansion of its plant at Grange Castle.
In a statement, the company said the planning application was contingent upon the successful clinical development of a cholesterol-reducing drug called bococizumab.
However, following a decision to discontinue the development of bococizumab, the expansion will not now go ahead.
The global pharma giant received planning permission in September, to proceed with a multi-million-euro expansion at Grange Castle plant.
The expansion was expected to create 350 jobs – including 200 new jobs when the site was fully operational.
Over €2 million was due be paid to South Dublin County Council for public infrastructure works under conditions of the planning application.
Pfizer employs 3,300 people across seven sites in Ireland.
Grange Castle is one of Pfizer’s leading biotechnology sites manufacturing a broad portfolio of biologic medicines and vaccines.
The 90-acre Grange Castle site has already seen investment of €1.6 billion and several rounds of expansion since it first opened in 2005.
Approximately 40 per cent of the land is currently underdeveloped.