Ritedose is engaged in the aseptic manufacturing and liquid packaging of respiratory and ophthalmic products using blow-fill-seal technology
Novo has agreed to acquire liquid packaging provider Ritedose. (Credit: MasterTux from Pixabay)
Novo Holdings, a private limited liability firm wholly owned by the Novo Nordisk Foundation, has agreed to acquire US-based Ritedose from AGIC Capital and Humanwell for an undisclosed sum.
Based in Columbia, South Carolina, Ritedose has expertise in the use of blow-fill-seal (BFS) technology, a process that involves blow moulding of plastic containers, filling with liquid product and sealing in one continuous operation under aseptic processing conditions.
The company is involved in the aseptic manufacturing and liquid packaging of respiratory and ophthalmic products using BFS technology. Also, it helps in the efficient, consistent and safe dosage delivery of products.
With a current capacity of more than two billion units per annum, Ritedose has delivered more than eight billion doses since 2012.
The company is also a subcontractor to ApiJect for the production of single-dose prefilled syringes suitable for administering Covid-19 vaccines.
Ritedose CEO Jody Chastain said: “We are excited and proud to be partnering with Novo Holdings. We believe that Novo Holdings’ experience and track record in healthcare and their commitment to supporting scientific, humanitarian, and social causes aligns well with our mission and will help us to deliver on our growth aspirations.
“Our focus has always been on honouring patients and the people who care for them, and we look forward to continuing to do so with Novo Holdings’ support.”
Ritedose also offers outsourced development and manufacturing of ophthalmology drugs, respiratory drugs, and vaccines, as well as develops and markets its own portfolio of generic drugs.
With more than 400 employees, the company serves customers ranging from small start-ups and large pharmaceutical companies to wholesalers, retail pharmacies and hospital systems.
Subject to customary closing conditions, the deal is expected to be completed in the first quarter of this year.
Goodwin Procter acted as legal advisor, while RBC Capital Markets served as financial advisor to Novo Holdings on the transaction.