It is understood that the company intends to lodge a planning application with Cork County Council in the coming weeks.
The plans they propose would see the firm — which manufactures biomedicines at the facility — expand its existing footprint by approximately 2,500sq metres.
An information session about the proposed expansion project took place in recent days which was attended by local residents and community groups in the area.
Among those in attendance was local councillor, Seamus McGrath.
Cllr McGrath said that the meeting discussed the plans for expansion, which are understood to be with the view of improving production capacity.
He said that the company advised that if the project proceeds, it will represent a new investment of €150m and would result in 180 construction jobs and a further 180 operational jobs.
Speaking to The Echo, Cllr McGrath said that at the meeting “they talked us through the proposal, and they hope to go in for planning in the next few weeks.”