BMS To Sell Small-Molecule API Plant in Ireland to Korea’s SK BiotekBy
Bristol-Myers Squibb and SK Biotek Co., Ltd. have signed a definitive purchase agreement to sell Bristol-Myers Squibb’s small-molecule active pharmaceutical ingredient (API) manufacturing facility in Swords, Ireland, to SK Biotek, a wholly owned subsidiary of SK Holdings, based in Seoul, South Korea. The companies intend to complete the deal by the fourth quarter 2017, at which time SK Biotek will continue to manufacture the current portfolio of small-molecule pharmaceutical products at the site.
The Swords facility currently manufactures APIs for a number of medicines, including Bristol-Myers Squibb’s and Pfizer’s Eliquis (apixaban), an anticoagulant. SK Biotek will operate the plant as a stand-alone contract development manufacturing organization and intends to add marketing, research and development talent, and invest in upgrades to bring additional capacity to the site.
SK Biotek and Bristol-Myers Squibb have an established relationship in pharmaceutical manufacturing and supply. SK Biotek has been a supplier to Bristol-Myers Squibb for 10 years and a key producer of commercial API starting materials and chemical intermediates.
Bristol-Myers Squibb and SK Biotek anticipate that the transaction will close during the fourth quarter of 2017. Closing of the transaction is subject to SK Biotek’s receipt of certain environmental permits in addition to other customary closing conditions. The transaction has been approved by the boards of directors of both companies.
Source: Bristol-Myers Squibb