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MSD dispels fears for Ireland's future in pharma after Trump comments with EUR280m investment.

M2 PHARMA-May 31, 2017-MSD dispels fears for Ireland's future in pharma after Trump comments with EUR280m investment

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Merck & Co Inc (NYSE: MRK), known as Merck Sharp & Dohme (MSD) outside the United States and Canada, has settled fears surrounding the future of Ireland's manufacturing pharmaceutical industry by committing to an investment of some EUR280m into its Irish plants, creating 330 new roles across two sites, Pharma File reported on Wednesday.

The uncertainty followed remarks made by President Trump, who said that manufacturing should to be brought back to the US in order to boost its economy.

MSD paused operations following the strong comments while it deliberated whether it should scale back on investment or not.

The major multinational's new investment brings its total number of employees in Ireland to 1,900. Of the newly created roles, 210 of them will be situated at the Brinny, Cork manufacturing plant.

The company hopes that the move will "allay fears" surrounding Ireland's future in pharma. MSD executive vice president, Sanat Chattopadhyay, said: "In recent years our Irish businesses have played an increasingly important role in the production of some of MSD's most important breakthrough medicines for the global market."

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Publication:M2 Pharma
Geographic Code:4EUIR
Date:May 31, 2017
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