Novo Nordisk are the company behind the weight loss drug Ozempic.
A massive pharmacuetical company is selling its midlands facility for €80m
US-based Alkermes plc is selling it's manufacturing plant in Athlone to Novo Nordisk, a global healthcare company who owns the highly sought-after weight loss drug, Ozempic.
Under the deal, Alkermes will receive a one-time €80,043,087 million dollar payment, and the transaction is expected to close in the middle of next year.
There are around 400 people employed by the business.
The two companies plan to enter into subcontracting arrangements to continue certain work at the facility for a time after closing of the transaction, which may continue through the end of 2025.
Chief Executive Officer at Alkermes, Richard Pops, says the sale will "drive operational efficiencies and enhance profitability over the long term."
He also says the agreement with Novo Nordisk offers existing employees at the state-of-the-art site in Athlone an "exciting opportunity for growth."
Thilde G. Hummel Bøgebjerg, Senior Vice President, Product Supply Emerging Technologies, Novo Nordisk, says:
"The acquisition of the Athlone facility represents an expansion of Novo Nordisk’s global manufacturing setup and will provide Novo Nordisk with additional development and manufacturing capacity for current and future oral products.
With this acquisition, we are excited to soon welcome approximately 400 highly skilled colleagues currently employed by Alkermes with valuable capabilities within oral drug development and manufacturing who will play a key role in serving even more patients with oral products."
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