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Bristol-Myers Squibb sells Irish manufacturing facility to SK Biotek
Bristol-Myers Squibb has agreed a deal to sell its Irish small molecule active pharmaceutical ingredient manufacturing facility in Swords to SK Biotek.
The South Korean company will take ownership of the facility in the fourth quarter of 2017, when the deal is due to be completed. SK Biotek will continue to manufacture the current portfolio of small molecule pharmaceutical products at the site following the purchase.
At present, the Swords site manufactures active pharmaceutical ingredients for a number of medicines, including Eliquis. It has been used to produce medicines for serious diseases such as cancer, cardiovascular disease, hepatitis, HIV/AIDS and psychiatric disorders.
SK Biotek will operate the plant as a standalone contract development manufacturing organisation and intends to add marketing, research talent, and capacity upgrades to the site after the takeover.
Lou Schmukler, president of global product development and supply at Bristol-Myers Squibb, said: "We value our partnership with SK Biotek and believe today's agreement will continue the vital role the Swords facility plays for its employees, the community and patients."
He also noted that the company retains a strong presence in Ireland, having committed to increasing its biologics capabilities in Cruiserath, in addition to its ongoing commercial and business presence in Dublin.
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