- Alkermes plc has sold its development and manufacturing facility in Athlone, Ireland to Novo Nordisk.
- The sale is part of Alkermes’ multi-year program to drive operational efficiency.
Alkermes plc, a pharmaceutical company, has announced the completion of the sale of its development and manufacturing facility in Athlone, Ireland to Novo Nordisk. The transaction, which closed recently, involved a one-time cash payment of approximately $91 million for the facility and certain related assets.
Richard Pops, Chief Executive Officer of Alkermes, commented on the sale, stating, “With the completion of the sale of the development and manufacturing facility in Athlone, Ireland, we delivered on a significant element of our multi-year program to drive operational efficiency and further align our infrastructure and cost framework with the anticipated needs of our business.”
The sale is part of a broader strategy by Alkermes to streamline its operations and focus on its core business. The company has expressed gratitude to the Athlone team for their dedication and commitment to manufacturing important medicines for patients worldwide.
In addition to the sale, Alkermes and Novo Nordisk have entered into subcontracting arrangements. These arrangements will allow for the continuation of certain development and manufacturing activities currently performed at the facility. These activities may continue through the end of 2025, ensuring a smooth transition and minimal disruption to ongoing operations.
Despite the sale, Alkermes will continue to manufacture its commercial products, including VIVITROL, ARISTADA, ARISTADA INITIO, and LYBALVI, at its Wilmington, OH manufacturing facility. The company will also retain all royalty revenues associated with products currently manufactured at the Athlone facility, further solidifying its financial position.
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