Out of the total investment, the company plans to pump an amount of $100m in its biologics operation in Grange Castle, west Dublin, Ireland and $30m in Ringaskiddy, Ireland.
Pfizer vice-president Paul Duffy was quoted by The Irish Times as saying, "There is opportunity for Pfizer’s Irish sites to attract the development of new medicines, while also continuing to manufacture existing, important medicines."
"Our Irish operations are significant and we have excellent colleagues across our sites, dedicated to the highest standards of manufacturing quality and excellence."
The production facility at Grange Castle will be expanded with addition of a new manufacturing line to increase its rheumatoid arthritis drug Enbrel production.
Enabling production of new biologics, the Grange Castle’s expanded plant will commence manufacturing operations from 2015.
Investment in the Ringaskiddy plant will focus on developing new capabilities that will help in the production of the company’s new cancer and other drugs for commercial launch as well as clinical products.