Up to 300 new jobs are being created in Cashel in Co Tipperary.
US generic drugs giant Amneal has purchased the former Johnson and Johnson plant on the Cahir Road.
The 200,000 square foot plant has lain idle for a number of year.
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Amneal's Irish operations will be dedicated to research and development as well as the production of inhalers and biosimilars - all high-end specialty medications.
The company expects to hire between 250 and 300 people.
This is Amneal's first step into the European market, and Jobs Minister Richard Bruton says it has the potential to grow considerably:
