Coffey welcomes €19 million investment in EirGen Pharma in Waterford

Wednesday, 11th April 2012

Fine Gael Waterford Deputy, Paudie Coffey, has welcomed news that Waterford based pharmaceutical company, EirGen Pharma, has secured a €19 million investment from the Middle East. The company currently employs 50 people in Waterford and, as a result of this investment, hopes to expand its business later this year.

"This investment, once again, proves that Waterford is open for business and can be a central hub for pharma-research and development, not only Ireland but in Europe. We must all continue to work together to try to turn the tide of unemployment in the south east and this news is a big boost and a vote of confidence in our workforce and facilities.

"I want to extend my congratulations to all the employees of EirGen Pharma in securing this investment for Waterford, which will lead to the development of high potency drugs to be used mainly in cancer treatment from their purpose built facility on the Old Kilmeaden Road.

"This is an Irish-owned company that has chosen Waterford as its base as an ideal location between Dublin and Cork, with easy access to Waterford, Dublin and Cork airports. While multinationals are welcome to invest in Waterford, local and national companies must also be encouraged to further invest and create jobs in Waterford.

"This is great news for the south east region and shows us all that Waterford is a fantastic place to do business, this will hopefully lead to further investments in the future in pharma-related companies which could potentially lead to further job creation in the Waterford city and county."