The announcement follows several investments in the CDMO’s manufacturing capabilities in 2021, as well as acquisitions in the US and UK
Global CDMO Sterling Pharma Solutions has reached agreement with Novartis to acquire its Ringaskiddy campus near Cork, Ireland. The sale is expected to close Q4 of 2022.
The CDMO will acquire the 111-acre site, which includes three API manufacturing buildings, as well as facilities to support development and scale-up. The site currently manufactures a number of APIs across several therapeutic areas, and the deal includes an ongoing supply agreement between the two companies from the Ringaskiddy facility. The site’s workforce will transition to Sterling.
Sterling’s CEO, Kevin Cook, said: “The addition of this new, world-class facility and its highly skilled workforce, with its history of quality and regulatory excellence, to Sterling’s portfolio, will enable us to provide expanded capacity to our customers.
”The site at Ringaskiddy has a number of synergies with our current global facilities enabling us to continue our growth strategy in the small molecule market, as well as extending our capabilities in several key technological areas such as peptide manufacturing and large-scale chromatography.”
The announcement follows several investments in the CDMO’s manufacturing capabilities in 2021, as well as acquisitions in the US and UK.