Novo Holdings picks up injectables CDMO in push for single-use manufacturing tech
For 25 years, Ritedose has been a CDMO that’s provided sterile, aseptic production of single-dose medication for more than 8 billion doses. Novo Holdings has taken notice, acquiring the Columbia, GA-based company from AGIC Capital and Humanwell.
“The investment in Ritedose is perfectly aligned with our deep expertise in pharma services. We see myriad opportunities to have an impact at Ritedose,” Novo’s head of principal investments Abhijeet Lele 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.”
Amid the supply chain shortage associated with the pandemic, Ritedose released nine new syringe products, including the muscle relaxant succinylcholine chloride, labetalol hydrochloride injection, which is used to control blood pressure during severe hypertension, and phenylephrine hydrochloride injection, which is used to treat shock symptoms.
The company has 13 products in its pipeline. Two more — different dosages of rocuronium bromide injection, which is used as an adjunct to general anesthesia — are expected to be announced soon.
Jody Chastain, the CEO of Ritedose, will continue to lead the subsidiary under Novo’s ownership. The deal is expected to close this quarter.
“Our focus has always been on honoring patients and the people who care for them, and we look forward to continuing to do so with Novo Holdings’ support,” Chastain said in a statement.
Financial details about the deal were not disclosed.
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