Finfacts reported that the Minister for Finance, Brian Lenihan has announced that Boston Scientific will invest E50m, with the support of IDA Ireland, in strategic R&D at its Galway facility.
Brian Lenihan, said “This investment is extremely significant, not just for Galway but also in terms of the research and development activities that are taking place in Ireland. Boston Scientific is a highly technologically advanced company which has to rapidly change and continually develop to remain ahead in a highly competitive industry. Their desire to locate this investment here speaks very highly of the calibre of Irish scientific talent.
“The R&D investment will bring major technical enhancement in innovation and skills to the Galway facility, which has already gained a valuable reputation within Boston Scientific Corporation for its successful development of drug-eluting stent products, through commercialisation to approval and global volume launch.”
The investment will support both R&D and manufacturing at the Galway facility and will broaden significantly the capabilities of the R&D team responsible for new product development, which directly employs over 200 people.
Jim Tobin, CEO of Boston Scientific, said “We are very pleased to be announcing this investment in Ireland. The Galway R&D team have an impressive talent base and a strong track record of delivering innovation. We look forward to their continuing contributions.”