Alkermes plc has entered into a definitive agreement to sell its development and manufacturing facility and related assets in Athlone, Ireland to Novo Nordisk for $92.5 million, subject to customary closing conditions.
 

Alkermes and Novo Nordisk also plan to enter into subcontracting arrangements to continue certain work currently performed at the facility for a period of time after closing of the transaction, which may continue through the end of 2025. Alkermes will continue to retain all royalty revenues associated with products currently manufactured at the facility. 
 
Alkermes will continue to manufacture its commercial products, VIVITROL, ARISTADA, ARISTADA INITIO and LYBALVI, at its Wilmington, OH manufacturing facility.
 
“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. “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.”