A pharmaceutical company intends to create a drug development centre in Reykjavík that could create hundreds of science and tech jobs.
Vísir reports that pharma giant Alvogen would like to build the centre at Vatnsmýri, close to the University of Iceland. 25 billion ISK will be invested in the project, making it the largest foreign investment project in Iceland since the 2008 crash.
Eiríkur Hilmarsson, the managing director of the Science Wing of the University of Iceland, told reporters that when construction of the centre is complete, it will provide 200 jobs in the science and tech fields.
Alvogen, which hired 30 Icelanders last May, is directed and partially owned by Róbert Wessman. Róbert was previously the director of pharmaceutical company Activis, the world’s third-largest generic drug company.