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Chanelle Group to create 350 jobs over next 5 years

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Sep 14, 2018

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Ireland’s largest indigenous drug company has announced an €86 million investment plan that will see the creation of 350 jobs over the next five years.

Chanelle, the privately-held Loughrea-based company founded by Michael Burke that operates in both human and animal generics, said construction would commence in 2019 on a new manufacturing facility for liquid and paste medicinal products targeting the US market. It will bring employment in the business to around 850.

Mr Burke, the owner and managing director of Chanelle Group, said the group had invested over €55 million since 2016 and created 175 jobs in that period.

“Over the next five years we will increase the pace of our investment programme. We’ve doubled turnover in the last five years, and expect to double turnover again within the next five years. This growth has been driven by our focus on R&D, and I remain firmly focused on innovation.

“We will invest more than €45 million in R&D over the next five years in our five research laboratories operating in Ireland and the Middle East. We develop 15 to 20 new products every year; this level of innovation is unheard of in many larger multinational companies.”

Chanelle specialises in generics – drugs that have come off patent. It has 1,700 licences for animal health products in the European Union – the most of any company, including the multinationals. Outside the EU, it holds a further 500 licences. On the human medicine side it holds 800 licences worldwide.

Source Irish Times ( 6 Sept, 2018)



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