The Almac Group is investing over $90.1 million and creating 348 jobs over the next five years. Almac Group provides services including drug discovery, diagnostics, R&D, the manufacture of active pharmaceutical ingredients, formulation development and clinical trials.

Almac Group employs over 2,100 at its headquarters in Craigavon, Northern Ireland, with an additional 1,380 staff located in facilities throughout the rest of the U.K., U.S. and Asia. The investment, supported by Invest Northern Ireland, relates to two business units: pharma services and clinical services.

Almac Pharma Services provides contract development and manufacturing services. The company will recruit 141 new staff over the next five years and will invest in new technologies and equipment to take advantage of the growing demand for outsourced development services.

Almac Clinical Services provides clinical packaging, labeling, logistics and clinical supply chain management services. It is investing in cold chain storage and distribution facilities and enhanced information systems to capitalize on the demand from clients for closer partnering opportunities. The unit is creating 181 new jobs over the next five years.

The investments also will create 26 additional new jobs within the group.

“These 348 new jobs will generate salaries of over $15.7 million per annum when the projects are fully implemented. This is a significant cash injection for the local economy. The investments also are good news for our growing life sciences sector, which is gaining an international reputation for innovation and excellence,” said Enterprise, Trade and Investment Minister Arlene Foster.

Invest Northern Ireland has offered Almac Group $9.2 million of support toward its investment.