continuous manufacturing services to Novartis in a number of critical areas, including cardiology, immunology, and cancer. As part of the deal, Sterling will buy the 111-acre facility, which has three API manufacturing plants and support and development facilities. At present, the workforce of Novartis Ireland is nearly 1,500 employees across three facilities in Cork and Dublin.
Novartis has invested $16 million (€14.4 million) at the Cork plant to manufacture a critical ingredient for an important cardiovascular drug. Sterling will also produce immunology and oncology products on the site for Novartis. Maeve Byrne, Managing Director of Novartis Ringaskiddy, expressed optimism over the deal. He said, “We are very proud of our colleagues, who have achieved an excellent reputation for high quality, reliable production over the last 27 years. We are pleased to have secured the continued manufacturing of Novartis medicines in Ringaskiddy by Sterling, as well as to support the sustainability of jobs with significant expertise.”
The financial specifics of the deal have not been revealed, but it is likely to conclude in the fourth quarter of this year. Audrey Derveloy, Country President of Novartis in Ireland, assured that the company will assist employees during the transition period. Sterling’s worldwide workforce will increase to over 1,000 staff with the establishment of the Ringaskiddy facility.
Kevin Cook, Sterling’s Chief Executive Officer, stated that the inclusion of Ringaskiddy plant will enable the company to service at greater capacity to its clients. He expressed hopes over the acquisition. He said, “The site at Ringaskiddy has a number of synergies with our current global facilities enabling us to continue our growth strategy in the small molecule market, as well as extending our capabilities in several key technological areas such as peptide manufacturing and large-scale chromatography.”
