Research & Innovation

Galway-based pharma firm Chanelle Group to invest €70million in research and innovation

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Galway-based pharma firm Chanelle Group to invest €70million in research and innovation

Galway-based pharma firm Chanelle Group to invest €70million in research and innovation
February 12
11:14 2016

Chanelle Group, the largest Irish-owned manufacturer of pharmaceuticals, will create 175 jobs in a major expansion of its operations, with a €70million investment.

Chanelle, which already employs 375 people, wants to double its production capacity and add to its research and development capabilities, as it looks to break into the US market for generic drugs.

The company has already secured full planning permission and environmental approvals for the proposed 25,000 square foot facility at its site in the IDA Industrial Park in Loughrea. Construction will begin within weeks and is expected to finish in January 2017.

This investment in an expanded research and development facility will lead to the launch of 75 new products.

Founded by local vet Michael Burke in the early 1980s, the company makes both animal health products and human medicines that are sold in over 80 countries around the world,  and expects sales to top €100 million in the year to April 2016.

Mr Burke commented the news with these words :

“In the past five years revenue has grown 100 per cent and employment has increased by over 200 people. This growth has been driven by research and development of new products and the expansion into new markets. We invest over €8million annually in research and development and this investment will continue.”

With this new building, Chanelle said it plans to expand into new markets, including the United States, Central and South America and expects to increase sales by 65 per cent over the next five years.

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