Cara Partners, part of the Schwabe Group, has unveiled plans for a €130 million modernisation and expansion of its facility in Little Island, Cork.

This substantial investment will lead to the creation of 60 new highly skilled jobs over the next four years.

Headquartered in Karlsruhe, Germany, the Schwabe Group – a global leader in natural health solutions such as plant-based medicines - established Cara Partners in Little Island Cork in 1978.

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This expansion will result in the development of processes to produce 15 additional API products at the Little Island facility. In addition, there will be significant investment in modernising and increasing the volume of the production of the existing EGb 761 API product.

Cara Partners produces the APIs under guidance of the headquarters in Karlsruhe.

This project is supported by the Irish Government through IDA Ireland.

Minister for Enterprise Trade & Employment Peter Burke TD said: "I am very pleased to hear the announcement by Cara Partners of this significant expansion investment which I am sure will be successful. Along with the creation of 60 new highly skilled roles, it further affirms Ireland as a leading choice for the pharmaceutical industry. Regional investments such as this are most welcome and remain a priority for both Government and IDA Ireland."