Deal expected to help expand its API production services
Sterling Pharma Solutions, a contract development and manufacturing organization (CDMO), has reached an agreement with Novartis to acquire its Ringaskiddy campus (Novartis Ringaskiddy Limited), near Cork, Ireland.
Per the deal’s terms, Sterling will acquire the 111-acre site, which features three active pharmaceutical ingredient (API) manufacturing buildings, along with facilities that support development and scale up in line with Sterling’s core business focus. The site currently manufactures a number of APIs spanning various therapeutic areas, and the purchase includes an ongoing supply agreement between Sterling and Novartis from the Ringaskiddy facility. Upon closing, the workforce will transition to Sterling.
“The addition of this new, world-class facility and its highly skilled workforce … to Sterling’s portfolio, will enable us to provide expanded capacity to our customers,” comments Kevin Cook, Sterling’s CEO. “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.”