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.
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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 Jobs Minister Richard Bruton has described the announcement as a massive boost for Cashel and the whole of Tipperary.
