Alkermes to sell South Roscommon plant for $92.5m

Irish based pharmaceutical company Alkermes is to sell its research and development and manufacturing plant in Monksland to a Danish multinational healthcare company for $92.5m.

It is expected that the deal, announced today, will close in the middle of next year,  leading to 400 staff employed at the South Roscommon plant transferring across to the Danish company, Novo Nordisk.

Under the terms of the agreement, Alkermes will be entitled to a one-time cash payment of $92.5m when the transaction is complete.

"As we prepare to enter 2024 as a pure-play neuroscience company, we have continued our focus on aligning our infrastructure and cost structure with the projected needs of the business. Upon closing, we expect this transaction to drive operational efficiencies and enhance profitability over the long term," said Richard Pops, Chief Executive Officer of Alkermes. "I am particularly pleased to enter this agreement with Novo Nordisk as it offers our employees at this world-class, state-of-the-art GMP manufacturing facility in Athlone an exciting opportunity for growth."

"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," said Thilde G. Hummel Bøgebjerg, Senior Vice President, Product Supply Emerging Technologies, Novo Nordisk.

Apart from the Athlone plant, Alkermes, with a headquarters in Dublin, also has a research and development centre in Waltham, Massachusetts and a manufacturing facility in Wilmington, Ohio.

The company has a portfolio of products for the treatment of alcohol dependence, opioid dependence, schizophrenia and bipolar disorder. It is also developing drugs for neurological disorders.

In 2011, Alkermes bought Elan's drug formulation and manufacturing unit.