US drugmaker Pfizer has reportedly cancelled a planned €400m expansion of its plant at Grange Castle in Clondalkin, Dublin, Ireland.

The development of this plant would have provided employment for 350 people and 1,250 jobs at the time of construction.

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Earlier this year, the company sought planning permission to carry out a 34,500m² expansion of the 36-acre site plant site.

The company had already started preliminary works on the Grange Castle project, however, no final formal decision had been made to go ahead.

Earlier this month, Pfizer announced the discontinuation of the global clinical development programme for bococizumab, its investigational Proprotein Convertase Subtilisin Kexin type 9 inhibitor (PCSK9i).

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"The company had already started preliminary works on the Grange Castle project, however, no final formal decision had been made to go ahead."

Bococizumab is a PCSK9i that was studied for its potential to lower low-density lipoprotein cholesterol (LDL-C) and improve cardiovascular outcomes.

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The company said that the totality of clinical information available for bococizumab indicated that the drug was not likely to provide value to patients, physicians, or shareholders.

The company had planned to manufacture the drug at the Grange Castle site.

The company’s largest selling drugs arthritis blockbuster Enbrel and the vaccine Prevenar are currently being produced at this plant.

Pfizer’s Grange Castle biotechnology plant is a key part of the company’s global manufacturing network and is licensed for the manufacture of commercial and clinical trial materials.