More than 100 highly specialised science, engineering, and technology roles will be created by the facility once it is fully operational, with room for future expansion.
More than 600 construction jobs will be created during the construction.
Construction will start in 2024, subject to obtaining planning approval, and is anticipated to be completed by 2028.
The facility will be located at a Kerry Technology Park IDA greenfield site.
According to Astellas, the new facility will increase its capability and capacity for aseptic pharmaceutical products.
Additionally, it will hasten the creation and launch of novel antibody drugs and other fresh goods.
Hideki Shima, Chief Manufacturing Officer at Astellas said, “With the new facility, Astellas will aim to strengthen our in-house production capacity and capabilities and ensure a stable supply of high-quality Astellas medicines to patients around the world.”
Simon Coveney, minister of enterprise, trade, and employment, welcomed the news.
For the Southwest region, Mr. Coveney said, "the significant investment it will bring, and the promise of highly specialised engineering, science and technology jobs is of great importance."
The investment, according to Michael Lohan, CEO of IDA Ireland, highlights the strategic role that Ireland plays in Astellas' international operations.
“The new facility in Tralee will be built with sustainability at its core and will showcase Ireland and our regional attractiveness as a location for investment,” Mr. Lohan stated.
Astellas said: “The new building in Tralee will be constructed in accordance with global best practises for energy and environmental design.”