Eli Lilly has revealed plans to invest massively into a new plant in Ireland that will create 300 new jobs.
The company is in talks about building on the IDA Ireland site and the company hopes to start construction later this year.
It is hoped the new plant will open in late 2025/early 2026.
Edgardi Hernandez, who is head of manufacturing for the company, said hiring would begin immediately.
Eli Lilly already has a presence in the country with a manufacturing plant in Kinsale, County Cork, which has been there for 40 years.
There is also a commercial centre in Little Island, Cork.
Mr Hernandez said: “Over the past 40 years, we have continued to invest in Ireland in part because of supportive government policies that value life science innovation.
“This new Lilly campus in Limerick will allow us to expand our capacity to make innovative new medicines that can help treat some of the world’s most serious illnesses.”
The company is working on a treatment for Alzheimer’s it has high hopes for.
The testing is now on phase three to assess how effective it is on preventing progression of the disease.
Irish Tánaiste, Leo Varadkar added: “Lilly produces crucial healthcare products which are making a huge difference to the lives of patients around the world fighting some of the world’s most serious illnesses.
“This new manufacturing centre is a significant expansion of that work and I wish the entire team the very best with the project.”
Eli Lilly has its US base in