UK-based CDMO Sterling Pharma Solutions has completed the acquisition of Novartis’ API facility in Ringaskiddy, near Cork, Ireland. The deal includes an on-going supply agreement to make APIs for cardiovascular, immunology and oncology medicines for Novartis. No financial details were disclosed.
CDMO Sterling Pharma Solutions has agreed to acquire Novartis’s 45-hectare Ringaskiddy campus near Cork, Ireland. Financial details of the sale, which is expected to close in Q4, 2022, have not been disclosed. All of the workforce will transfer to Sterling, bringing its global total to over 1,000.
The deal also includes an ongoing supply agreement for products Novartis has made at the site. The facilities include three API manufacturing buildings, plus facilities to support development and scale-up.
Siegfried has agreed to buy two drug product sites near Barcelona, Spain, from Novartis, in a deal expected to close by the end of 2020. Terms were not disclosed but Siegfried said that its sales should surpass CHF 1 billion in 2021, with the drug product operations “achieving the targeted critical size”.