Novo Holdings acquired South Carolina-based sterile injectables manufacturer Ritedose for an undisclosed price.
Ritedose, which specializes in blow-fill-seal technology and has been focusing on the outsourced sterile compounding market for drugs in short supply, employs about 400 people at its Columbia, South Carolina, campus.
The sale is expected to close in the first quarter of this year, and Ritedose chief executive Jody Chastain will remain to run the manufacturer under Novo Holding’s ownership. Additional financial terms of the acquisition weren’t disclosed.
Ritedose began pumping $110 million into upgrades at its Columbia site in 2014 as part of an expansion that added about 80,000 square feet to the previous 120,000-square-foot facility, growing its capacity from about 1 billion units a year to about 2 billion units.
Novo Holdings, which has been on an investment tear in recent years, announced two weeks ago it would pump $97.1 million into tiny 21st.BIO, a Danish bioproduction startup looking to scale up the manufacture of proteins and peptides. 21st.BIO uses Novozyme technology to develop the right expression platform for large-scale production molecules.
In July, Novo Holdings said it pledged $112 million to fund Biosustain, a research center at the Technical University of Denmark that pioneers renewable alternatives to drugs, consumer goods and other products typically produced from fossil fuels or rare plant materials.
“The investment in Ritedose is perfectly aligned with our deep expertise in pharma services,” Abhijeet Lele, the head of principal investments in the U.S. for Novo Holdings, said in a statement. “We are also particularly excited to be at the vanguard of increasing vaccine availability through the use of blow-fill-seal injectable technology.”
by Joseph Keenan
Airnov provides critical healthcare industries with high-quality, controlled atmosphere packaging, to protect their products from moisture and oxygen. The business has manufacturing facilities in the USA, France, China and India and employs around 700 people.
Takeda of Japan has partnered with Hong Kong-based Hutchmed, gaining the commercial rights to colorectal cancer drug fruquintinib outside of China for $400 million up front, plus $730 million in potential milestone payments. Takeda also will help develop fruquintinib, which can be applied to subtypes of refractory metastatic colorectal cancer, regardless of biomarker status, the companies said.
On April 3, Scangos, who’s been chief executive officer at Vir since the start of 2017, will hand over the reins to Marianne De Backer, Ph.D. De Backer comes over from Bayer, where she currently heads up pharmaceutical strategy, business development and licensing. Alongside her CEO appointment, De Backer is set to join Vir’s board of directors, the company said Wednesday.