Chanelle Group has announced that it will create 175 new jobs and launch 75 new products in markets worldwide, as part of a €70m investment.

Making the announcement, the Taoiseach Enda Kenny announced the creation of 175 new jobs by Chanelle Group, Ireland’s largest indigenous pharmaceuticals manufacturer.

The company is undertaking a €70m investment programme that will see the Group expand manufacturing capacity at its Loughrea headquarters and invest in Research and Development.

Founded by CEO Michael H. Burke in 1985, Chanelle Group currently employs 375 people in Ireland, the UK, Jordan and India.

Taoiseach Enda Kenny said he was delighted to welcome the €70m investment, which he said is a vote of confidence in Ireland as a world class manufacturing location and as a leading centre for research and development in both human and veterinary pharmaceuticals.

“The Government wants to keep the recovery going so that innovative companies like Chanelle can continue to expand, grow and create jobs. It is most welcome that Chanelle Group is increasing its workforce to over 550 people in the West of Ireland and I congratulate Michael Burke on his achievements”.

Michael Burke, Founder and Managing Director, Chanelle Group said in the past five years revenue has grown 100% 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 €8m annually in research and development and this investment will continue as we launch 75 new products over the next five years in both human and veterinary products.

“This investment programme will double production capacity at our Loughrea manufacturing facility to ensure we can meet the global demand for both our – market-leading pharmaceuticals and the new products in development.”