Bausch Health will bring 100 new jobs to Waterford as it sets its sights on expanding its contact lens manufacturing capacity in Ireland.
Multinational pharma firm Bausch Health has announced today (13 November) that it will expand its contact lens manufacturing capacity at its sites in Waterford in Ireland and Rochester in New York. This will create a total of 200 jobs over the next four years, 100 of which will be in Ireland. The 100 new jobs in Waterford will bring the total Irish employee headcount up to 1,450.
“The increased manufacturing capabilities will enable us to meet our anticipated global customer demand for the Bausch & Lomb daily disposable silicone hydrogel contact lenses, a product that is critical to both our ongoing transformation and to our mission of improving people’s lives globally,” commented Bausch Health chair and CEO Joseph C Papa.
Though Bausch Health is a large global company that develops, manufactures and markets a variety of pharmaceutical, medical device and over-the-counter products, Bausch & Lomb has a specific focus on eye health. The silicone hydrogel contact lenses that the company manufactures in Ireland are expected to generate more than $1bn of annualised revenue over the next five years.
“The corporation has placed enormous confidence in our team with this investment,” added Mark Hennessy, Bausch & Lomb Waterford site lead, “and it is a reflection of our track record of recent performance and an acknowledgement of our commitment to continue to deliver into the future. It enables us to take advantage of the opportunities that are emerging in the contact lens and eye health sector in the coming years.”
Also celebrating the news was IDA CEO Martin Shanahan, who praised both the company’s expansion and how this development reflects on Ireland’s global position. “This adds to Ireland’s reputation in this sector; we are the second-largest exporter of medtech products in Europe, with 33pc of the global supply of contact lenses made here.
“Winning investment for regional locations is a key focus for IDA Ireland and the resulting increase in employment this expansion will create is very important for the south-east region, and I wish the company continued success.”
Contact lenses on pink-blue background. Image: belchonock/Depositphotos
