CG Results Healthcare has advised Novartis on the divestment of its Ringaskiddy, Ireland manufacturing facility
- Service: M&A
- Sector: Healthcare
- Sub Sector: Pharma & Biotech, CROs & CMOs
- Engagement Type: Sell Side
Novartis has divested its Ringaskiddy campus to Sterling Pharma Solutions, a global contract development and manufacturing organisation, backed by Global Healthcare Opportunities (GHO Capital Partners LLP), the European specialist investor in global healthcare. 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.
The 111-acre facility, which includes three active pharmaceutical ingredient (API) manufacturing buildings, as well as facilities to support development and scale-up, complements Sterling’s core business focus and expands its global API manufacturing capabilities. The sale is expected to close in Q4 2022. Upon closing, the workforce will transition to Sterling.
This deal represents CG Results’ 6th deal advising Novartis over the past 2 years.