Alkermes Inks Pact To Sell Its Development And Manufacturing Facility In Athlone, Ireland to Novo Nordisk For $92.5M; Transaction To Close In Mid-2024
Portfolio Pulse from Benzinga Newsdesk
Alkermes has agreed to sell its development and manufacturing facility in Athlone, Ireland to Novo Nordisk for $92.5 million. The transaction is expected to close in mid-2024.
December 14, 2023 | 11:08 am
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POSITIVE IMPACT
Alkermes is selling its Athlone facility to Novo Nordisk, which could streamline operations and provide a cash influx of $92.5M.
The sale of the Athlone facility is likely to be viewed positively as it provides Alkermes with a significant cash infusion, which could be used for debt reduction, reinvestment in core operations, or shareholder returns. The deal indicates a strategic move to streamline operations and focus on core competencies.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Novo Nordisk's acquisition of Alkermes' Athlone facility for $92.5M expands its manufacturing capabilities.
Novo Nordisk's purchase of the Athlone facility is a strategic expansion of its manufacturing capabilities. This could potentially enhance its production efficiency and product pipeline, which may be viewed positively by investors. However, the impact is moderate as it is a single facility and the transaction is not immediate but expected to close in mid-2024.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70