It will be Europe's first dedicated Spot On manufacturing facility
A new manufacturing facility is to create 350 jobs over the next five years at Loughrea in Co Galway.
The €10m investment is being made by the Chanelle Group - Ireland's largest manufacturer of generic medicines for human and animal health.
It will be Europe's first dedicated Spot On manufacturing facility built to European and US quality standards.
Spot On is a topical treatment used globally to protect dogs and cats against harmful parasites.
Details of the next phase of the company's programme, which will see construction commence in 2019 on a new 25,000 sq ft manufacturing facility for liquid and paste medicinal products, were also announced on Thursday.
Construction of this will begin in October 2019 and the products manufactured will be for the US market.
Speaking at the official opening,Tánaiste Simon Coveney said: "The investment announced today is the largest by owner Michael Burke in the history of the company and through Enterprise Ireland, the Government is pleased to support Michael as he grows Chanelle Group and creates valuable employment here in Loughrea.
"I wish Michael and his company continued success in the future".
Michael Burke, owner and managing director of Chanelle Group, said: "Since 2016 we have invested over €55m and created 175 new jobs in our global headquarters in Loughrea.
"Over the next five years we will increase the pace of our investment programme, investing €86m in our operations and creating 350 new jobs, bringing total employment to over 850 people."
Chanelle Group is privately owned with sales of over €111m in 2017.
It has agreed Spot On manufacturing contracts in excess of €20m - with animal health companies in the EU, Asia, the Middle East and the United States.
The company employs over 500 people and currently has 91 open positions.
Roles availbale include positions in operations, research & development, engineering, quality and warehouse operations.