Cara Partners, a natural medicine producer rooted in Co Cork, has declared its plans to inject €130 million into its Little Island establishment over the coming four years. This initiative is expected to generate 60 new occupations at the site. A member of the German-based Schwabe Group, Cara Partners has had a significant footprint in eastern Cork since 1978, and is known for large scale manufacturing of an active pharmaceutical ingredient (API), featured in a variety of group products.
This robust investment, backed by IDA Ireland, is anticipated to finance the advent of 15 new API products, according to a statement released by Cara Partners on Monday. It will also underpin the much-needed upgrading of their current production lines.
“Over the past four decades, Cara Partners has been a reputed member of the Schwabe Group, specialising in the extraction of API from natural plant materials,” stated Dr Frank Waimer, CEO of Schwabe Group. “Through this investment, Cara Partners will come to be recognised as the international hub of excellence within the Schwabe Group realm and beyond.”
The firm’s general manager, Stephen Kenny, said the investing scheme would “guarantee the sustainability” of the Little Island operation “for many decades to come.”
Peter Burke, the Minister for Enterprise, Trade and Employment, suggested that the investment ratifies Ireland’s status as a “prime destination” for the pharmaceutical sector. “Investments of this nature, that boost regional economies, are always encouraged and remain a key objective for both the Government and IDA Ireland.”
Michael McGrath, the EU Commissioner nominee said, “Visiting Cara Partners, a valued member of Schwabe Group, to commemorate this important investment and employment creation was a delight. This is further evidence of Cork, and the larger southwest region, being an ideal base for companies such as Cara Partners.”