Published Thursday, 14 August 2014
The company employs over 2,100 staff at its headquarters in Craigavon, Co Armagh, with an additional 1,380 staff located in facilities throughout the rest of the UK, USA and Asia.
The Almac Group operates in the pharmaceutical and biotechnology sectors, providing services including drug discovery, diagnostics and clinical trials.
Almac Pharma Services will take on 141 new staff, while Almac Clinical Services will provide 181 new positions.
The investments will also create a further 26 new jobs within the group.
Invest NI has offered the Almac Group £5.5million of support towards its investment.
Alan Armstrong, CEO of the Almac Group, said: "We are fortunate to employ an excellent highly-skilled workforce at our Craigavon headquarters which has played a major role in our global growth.
"It's fantastic that demand for our services has resulted in the creation of so many new jobs as we embark on further expansion over the next five years."
Enterprise Minister Arlene Foster said that the 348 new jobs will generate salaries of over £9.4m per annum when the projects are fully implemented.
"Almac is one of Northern Ireland's most successful indigenous companies and a globally respected brand.
"This significant investment will enable the company to expand the range of services it can offer, allowing it to respond to key trends within the pharmaceutical industry and enhance its market-leading position."
"This is a significant cash injection for the local economy. The investments are also good news for our growing life sciences sector, which is gaining an international reputation for innovation and excellence," she added.
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