In another boost for Ireland, Sanofi's Gemzyme unit has inaugurated a 150 million euro expansion at its biotechnology campus in Waterford.__
The site, which employs 500 people, has seen capital investment of 500 million euros since Genzyme’s arrival in Ireland 10 years ago. The latest spend has increased capacity at the company’s manufacturing operation, and added development capability, laboratory facilities and administration offices.
__Christopher Viehbacher, chief executive of Sanofi, which acquired Genzyme earlier this year for $20.1 billion plus add-ons, said Waterford is a strategic site "and products from this location make a great difference in the lives of patients in more than 70 countries".
__Richard Bruton, Ireland's minister for jobs, enterprise and innovation, noted that “biotechnology and pharmaceuticals have been major parts of the success of multinational investment in Ireland in recent years. If we are to get out of the crisis we are in, we must continuously build on these strengths".
He added that "we must continually encourage companies in these sectors to locate more important parts of their operations in Ireland…and create the jobs we so badly need".