London, UK – Global Healthcare Opportunities, or GHO Capital Partners LLP (“GHO”), the European specialist investor in global healthcare, acknowledges the announcement from its portfolio company Sterling Pharma Solutions, regarding its acquisition of API Manufacturing Facility in Ringaskiddy, Ireland.
Sterling Pharma Solutions, a global contract development and manufacturing organisation, today announced the completion of its acquisition of an active pharmaceutical ingredient (API) manufacturing facility in Ringaskiddy, Ireland, from Novartis, in a deal that was initially announced in March 2022. The facility will provide additional capacity for Sterling’s growing API manufacturing services, and the deal includes an on-going supply agreement with Novartis to continue to manufacture a number of APIs for cardiovascular, immunology and oncology medicines at Ringaskiddy. No financial details of the deal have been disclosed.
The 111-acre site, located near to Cork, includes multiple commercial-scale production buildings, with a total vessel capacity of 175 cubic metres across over 30 reactor trains, as well as a small-scale facility, and a development and support building housing 14 development and analytical laboratories. 350 staff at the site have now transferred to Sterling’s employment.
Equipped to undertake a wide range of chemical reactions, including the handling of highly potent APIs, down to an Occupational Exposure Level (OEL) of 200 ng/cubic metre, technologies also include large-scale chromatography columns, solid phase and agitated vessels for peptide coupling and synthesis, as well as various milling and micronisation equipment for drug substance processing. Sterling plans to invest in the Ringaskiddy facility to grow its contract development and manufacturing pipeline, bringing additional jobs to the site over the coming years.