Alkermes sells Athlone facility to Novo Nordisk for $92.5M; 400 employees to transfer

Alkermes plc.

Asset sale of Athlone development and manufacturing facility for $92.5M cash; expected to close mid-2024.
Approximately 400 Alkermes employees at Athlone will transfer to Novo Nordisk upon closing.
Alkermes to enter subcontracting arrangements to continue certain work at facility through end of 2025; deal expected to be cost-neutral over that period.
Alkermes retains all royalty revenues from products currently manufactured at Athlone; continues producing VIVITROL, ARISTADA, LYBALVI at Wilmington, OH.
CEO Richard Pops: transaction expected to drive operational efficiencies and enhance profitability as Alkermes focuses on pure-play neuroscience.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Alkermes plc. entered into Purchase Agreement with Novo Nordisk Production Ireland Limited and Novo Nordisk A/S valued at $92.5 million (effective 2023-12-13).

Action: entry
Agreement: asset purchase
Counterparty: Novo Nordisk Production Ireland Limited and Novo Nordisk A/S
Value: $92.5 million
Effective: 2023-12-13

Exact text from the filing

On December 13, 2023, Alkermes Pharma Ireland Limited (the “Seller”), an indirect wholly-owned subsidiary of Alkermes plc (together with its subsidiaries, the “Company”), entered into an asset purchase agreement (the “Purchase Agreement”) with Novo Nordisk Production Ireland Limited (the “Purchaser”) and Novo Nordisk A/S (the “Purchaser Guarantor” and, collectively with the Seller and the Purchaser, the “Parties”).

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Source: SEC EDGAR

accession 0000950170-23-070190

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