Govt Announces €40m Research Investment In Pharma Sector

Mr Richard Bruton TD, Minister for Jobs, Enterprise and Innovation and Mr Seán Sherlock TD, Minister for Research and Innovation has announced funding, through the Department of Jobs, Enterprise and Innovation, of €30m to support world-class research at the Synthesis & Solid State Pharmaceutical Centre (SSPC) based at the University of Limerick.

This exchequer funding is leveraging a further investment of €10m from industry partners, to the SSPC. The Minister for Finance, Mr Michael Noonan TD and the Minister for Housing & Planning, Ms Jan O'Sullivan TD were present at the announcement. The SSPC is dedicated to supporting the pharmaceutical industry in Ireland, which is responsible for over 60,000 Irish jobs and exports over €50bn annually.

Announcing the funding, Minister Bruton stated: "The importance of continued investment in excellent science to Ireland's on-going and future economic development cannot be understated. A central part of this Government's Action Plan for Jobs is to ensure that scientific research is better targeted at turning the good ideas of our talented researchers into good products and high quality jobs. Investments in science, like today's commitment to the SSPC, are key to supporting dynamic Irish companies, attracting and developing multinational investment, and ultimately creating the jobs we need."

Minister Bruton added: "This commitment of €40million by Government and industry in establishing a research centre of international significance is a major investment in the future of research in Ireland, in the pharma sector, and ultimately in jobs.

"This investment in the SSPC by Government and industry partners will have major significance in promoting Ireland as a location for Foreign Direct Investment and job creation particularly in the areas of Research & Development and advanced manufacturing."

(CD/JP)