An £83m investment by Newry-based pharmaceutical company, Norbrook, could result in 293 new technology jobs in Northern Ireland, including high-calibre research posts.
The project is being backed by RDA Invest Northern Ireland, which has offered an additional £3m to support key elements of the project.
The investment will increase Norbrook’s capability and allow it to develop a number of new and unique veterinary pharmaceutical products for the global export market. The company also plans to increase its manufacture of active pharmaceutical ingredients and develop new manufacturing and product formulation methods which will help it retain its competitive advantage.
Economy minister Nigel Dodds said: ‘It is a great achievement that this major investment, which could have gone outside Northern Ireland, has been secured by Invest NI. Norbrook is one of our most successful indigenous companies and has an impressive record of growth.
‘Norbrook’s ongoing investment in research and development is a key factor in its success and undoubtedly the quality and availability of graduates in Northern Ireland has influenced the company’s decision to invest further here.
Norbrook, which employs 880 at its facility in Newry, manufactures a wide range of veterinary pharmaceutical products that are sold in over 100 countries. A strategic priority for the company is to increase its penetration of the lucrative US pet market.
Norbrook’s executive chairman, Lord Ballyedmond OBE, said: ‘Norbrook has built its reputation in the large animal market, particularly cattle, and while retaining a focus on this we are now keen to develop a bigger presence in the pet market. Our goal is to establish a centre of R&D excellence and to continue to develop patented products that will outperform our competitors.’