Novartis sells Ringaskiddy plant
Novartis in Ringaskiddy is to be acquired by a UK company, it was announced this week.
Sterling Pharma Solutions, a global contract development and manufacturing organisation, on Tuesday announced that it had reached agreement with Novartis to acquire its Ringaskiddy campus.
Financial details of the sale, which is expected to close in Q4 2022, have not been disclosed.
Under the terms of the agreement, Sterling will acquire the 111 acre site, which includes three active pharmaceutical ingredient (API) manufacturing buildings, as well as facilities to support development and scale up in line with Sterling’s core business focus.
Maeve Byrne, Managing Director at Novartis Ringaskiddy Limited Pharmaceutical facility said: “We are very proud of our colleagues, who have achieved an excellent reputation for high quality, reliable production over the last 27 years. We are pleased to have secured the continued manufacturing of Novartis medicines in Ringaskiddy by Sterling, as well as to support the sustainability of jobs with significant expertise.”
The site currently manufactures a number of APIs across a range of therapeutic areas, and the deal includes an ongoing supply agreement between Sterling and Novartis from the Ringaskiddy facility.
Upon closing, the workforce will transition to Sterling.
Sterling’s Chief Executive Officer, 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,” he concluded.
Audrey Derveloy, Country President of Novartis in Ireland said: “It has been a source of great pride over the years to be able to tell medical practitioners that many Novartis products are made right here in Ireland. I would like to thank all our colleagues at Novartis Ringaskiddy for their ongoing commitment, and to assure them that we will support them throughout the transition process.”
Novartis said Sterling was selected, following an in-depth assessment process to identify the best fit for Novartis in terms of quality, services, culture and values, and to secure a sustainable future for its associate.