Two hundred new jobs have been announced in Waterford.

The jobs will be created at Eirgen Pharmaceuticals which is based in the Westside Business Park.

A parent company of Opko Health, EirGen specialises in the development and commercial supply of specialised pharmaceutical products used in cancer treatment.

The highly skilled positions are expected to be filled over the next five years.

Opko, which bought EirGen almost a year ago, said it plans to expand manufacturing in Waterford and set up an R&D centre.

Jobs Minister Richard Bruton made the announcement and claimed the South East is now enjoying the fastest rate of jobs growth in the country.