Pharma company Hovione is expanding its Cork site in Loughbeg and said it will create up to 100 jobs over a three year period.

The Cork expansion is part of a global expansion strategy representing an investment of €148m.

Hovione helps pharmaceutical customers bring new and off-patent drugs to market and it has sites in Cork, Portugal, China and the US.

The Cork site facilitates the production of highly Potent Active Pharmaceutical Ingredients (HPAPI) and supports Drug Substance Manufacturing projects of all sizes.

The expansion will fuel plans to create an ecosystem, where large customer projects can connect to the existing infrastructure and equipment.

Dr Paul Downing, General Manager at Hovione in Cork, said the company's Irish plant is one of the strategic growth engines of the company.

"With its unique location in a pharmaceutical hub, our Loughbeg site plays a significant and strategic role within the global network," Dr Downing said.

"Hovione in Cork has expanded rapidly over the past number of years. Since it was established in 2009, it has more than quadrupled in terms of team members. We currently employ over 200 team members and this latest expansion and growth announcement will lead to a further 100 jobs," he added.