Novo Nordisk (CPH: NOVO-B), a Danish pharmaceutical giant, has reached an agreement to acquire a production facility in Ireland from Alkermes (NASDAQ: ALKS), a drug manufacturer, along with related assets for a total consideration of USD 92.5 million. The transaction, which is subject to customary adjustments and fulfillment of closing conditions, is anticipated to be finalized by mid-2024. Notably, the factory will continue to manufacture some of Alkermes’s therapies until 2025.
Novo Nordisk plans to utilize the good manufacturing practice (GMP) site for the production of both existing and future oral medications. This acquisition is a component of the company’s broader strategy to scale up its manufacturing capabilities in response to the surging demand for its GLP-1 products.- Flcube.com
