SK Pharmteco, a global contract engineering and manufacturing company owned by South Korean conglomerate SK Group, will invest an additional $30 million in the second phase of an expansion in Dublin.
The group will make the new investment in its Irish pharmaceutical manufacturing facility, which is owned by SK Biotek’s subsidiary.
Last month, SK Pharmteco announced a $35 million investment in the first phase of the expansion, which will see the construction of a new manufacturing building on the Swords campus, due for completion by 2024.
SK Pharmteco acquired Bristol Myers Squibb’s Swords Campus facility for an undisclosed price in 2017.
In conversation with the Sunday independentconfirmed Joyce Fitzharris, President of SK Biotek Ireland, to media reports in a South Korean online publication the investorthat the company would invest an additional $30 million for phase two of the expansion. She said that SK Biotek is making the further investment because it sees the growth potential of its customers.
“We produce for several customers, so we have to have capacity available,” she said. “And you have to have it built beforehand.
“We see enough growth ahead of us to invest in this second phase.”
She added that the second phase would come online around 2027.
In addition to investing in the new plant, Fitzharris said the company will invest another 10 million euros in new technologies. These include antibody-drug conjugates (targeted cancer therapies) as well as micronization and spray drying (technical processes that are part of drug production).
Fitzharris said the company was not “in the loop” on how many jobs would be created in the two phases of its expansion, saying it would create jobs.
She said the investment is a validation of the Irish pharmaceutical sector.
https://www.independent.ie/business/irish/korean-pharma-group-sk-pharmteco-anticipates-growth-and-raises-spending-on-dublin-site-expansion-41844647.html The Korean pharmaceutical group SK Pharmteco is expecting growth and is increasing spending on expanding its Dublin site