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A major investment by a US pharmaceutical research company has been announced with the creation of 250 jobs.

PPD, which has its headquarters in North Carolina, expects to invest up to €14m in its facility in Athlone, Co Westmeath. It already employs more than 8,000 workers in 27 countries and manages clinical trials for the world's top drug manufacturers.

Improved infrastructure and the presence of the Athlone Institute of Technology (AIT) attracted the company to base itself in the midlands.

Chief Financial Officer of PPD Dan Darazsdi told the Irish Independent that the company will begin recruitment shortly.

"The 250 jobs will come over a five-year period. We're looking to start our plans very quickly. One of the key attributes of PPD is a company that moves very quickly. Even in this difficult economic environment, we have a very strong financial position.

"We are convinced that Ireland is the right location for our future growth," he said.

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